Vetr Upgrades Alphabet (NASDAQ:GOOG) to “Buy”

Alphabet (NASDAQ:GOOG) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, November 13th. The firm presently has a $1,067.64 price objective on the information services provider’s stock. Vetr‘s price objective would indicate a potential upside of 5.69% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on GOOG. Pivotal Research reissued a “hold” rating and issued a $980.00 price objective (down from $990.00) on shares of Alphabet in a research report on Monday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,050.00 price target on shares of Alphabet in a research report on Monday, July 17th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 19th. Deutsche Bank reaffirmed a “buy” rating and issued a $1,220.00 price target on shares of Alphabet in a research report on Friday, July 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,050.00 price target on shares of Alphabet in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirty-nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $1,047.96.

Alphabet (NASDAQ GOOG) traded down $11.24 during trading on Monday, reaching $1,010.17. 1,908,944 shares of the company’s stock traded hands, compared to its average volume of 1,092,216. The stock has a market cap of $709,676.69, a PE ratio of 34.19 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet has a 12 month low of $743.10 and a 12 month high of $1,062.38.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company earned $9.06 EPS.

In other Alphabet news, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $933.08, for a total transaction of $170,753.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann Mather sold 38 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the transaction, the director now owns 1,813 shares in the company, valued at approximately $1,841,645.40. The disclosure for this sale can be found here. Insiders have sold a total of 38,395 shares of company stock worth $37,941,725 in the last 90 days. 13.92% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in GOOG. Vanguard Group Inc. boosted its holdings in Alphabet by 3.0% during the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after buying an additional 589,654 shares in the last quarter. BlackRock Inc. boosted its holdings in Alphabet by 4.8% during the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after buying an additional 826,480 shares in the last quarter. FMR LLC boosted its holdings in Alphabet by 0.4% during the second quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after buying an additional 62,507 shares in the last quarter. State Street Corp boosted its holdings in Alphabet by 0.3% during the first quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock worth $10,010,859,000 after buying an additional 36,864 shares in the last quarter. Finally, Capital World Investors boosted its holdings in Alphabet by 13.9% during the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after buying an additional 776,853 shares in the last quarter. Hedge funds and other institutional investors own 34.73% of the company’s stock.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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