Vetr upgraded shares of Alphabet Inc. (NASDAQ:GOOG) from a hold rating to a buy rating in a research report report published on Monday morning. Vetr currently has $1,067.64 price objective on the information services provider’s stock.
A number of other brokerages have also issued reports on GOOG. Piper Jaffray Companies restated an overweight rating and set a $1,150.00 target price on shares of Alphabet in a research report on Thursday, October 19th. Pivotal Research lifted their price objective on shares of Alphabet from $940.00 to $970.00 and gave the company a hold rating in a research report on Thursday, October 12th. The Goldman Sachs Group, Inc. reiterated a buy rating on shares of Alphabet in a research report on Friday, October 20th. Cantor Fitzgerald reiterated an overweight rating and issued a $1,100.00 price objective (up from $1,070.00) on shares of Alphabet in a research report on Tuesday, July 25th. Finally, JMP Securities reiterated an outperform rating and issued a $1,077.00 price objective on shares of Alphabet in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $1,047.52.
Shares of Alphabet (GOOG) traded down $3.87 on Monday, hitting $1,028.64. 505,978 shares of the stock were exchanged, compared to its average volume of 1,340,000. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $720,600.00, a price-to-earnings ratio of 34.18 and a beta of 0.96. Alphabet has a twelve month low of $737.02 and a twelve month high of $1,048.39.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $1.26. The business had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the firm posted $9.06 earnings per share.
In related news, Director Ann Mather sold 37 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $940.67, for a total transaction of $34,804.79. Following the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $1,682,858.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $931.44, for a total value of $3,725,760.00. Following the transaction, the chief executive officer now directly owns 1,618 shares in the company, valued at $1,507,069.92. The disclosure for this sale can be found here. Insiders have sold a total of 26,158 shares of company stock valued at $25,437,999 in the last quarter. Company insiders own 13.92% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Alphabet by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after purchasing an additional 589,654 shares in the last quarter. BlackRock Inc. raised its position in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after purchasing an additional 826,480 shares in the last quarter. FMR LLC raised its position in shares of Alphabet by 0.4% in the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after purchasing an additional 62,507 shares in the last quarter. State Street Corp raised its position in shares of Alphabet by 0.3% in the 1st quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock valued at $10,010,859,000 after purchasing an additional 36,864 shares in the last quarter. Finally, Capital World Investors raised its position in shares of Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after purchasing an additional 776,853 shares in the last quarter. 34.28% of the stock is currently owned by institutional investors.
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.
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