Alphabet Inc. (GOOGL) Downgraded by Vetr Inc.

Vetr cut shares of Alphabet Inc. (NASDAQ:GOOGL) from a buy rating to a hold rating in a research report report published on Friday. The firm currently has $1,007.29 price target on the information services provider’s stock.

A number of other analysts have also issued reports on GOOGL. B. Riley reiterated a buy rating and set a $1,050.00 price target on shares of Alphabet in a research note on Sunday, July 30th. Cowen and Company reiterated an outperform rating and set a $1,075.00 price target on shares of Alphabet in a research note on Thursday, August 10th. Bank of America Corporation reiterated a buy rating and set a $1,100.00 price target on shares of Alphabet in a research note on Tuesday, September 26th. Wells Fargo & Company reiterated an outperform rating and set a $1,250.00 price target on shares of Alphabet in a research note on Wednesday, September 27th. Finally, SunTrust Banks, Inc. began coverage on shares of Alphabet in a research note on Tuesday, August 15th. They set a buy rating and a $1,100.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $1,057.04.

Alphabet (GOOGL) opened at 993.64 on Friday. The company has a market capitalization of $688.47 billion, a PE ratio of 36.01 and a beta of 0.96. Alphabet has a one year low of $743.59 and a one year high of $1,008.61. The firm’s 50-day moving average is $947.52 and its 200 day moving average is $937.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.25 by ($3.24). The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter last year, the company earned $8.42 earnings per share. On average, equities analysts expect that Alphabet will post $30.59 EPS for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the company. Pure Financial Advisors Inc. increased its position in shares of Alphabet by 0.4% in the second quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock valued at $258,000 after buying an additional 1 shares in the last quarter. Delta Asset Management LLC TN increased its position in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares in the last quarter. Baystate Wealth Management LLC increased its position in shares of Alphabet by 0.7% in the second quarter. Baystate Wealth Management LLC now owns 295 shares of the information services provider’s stock valued at $288,000 after buying an additional 2 shares in the last quarter. First Bank & Trust increased its position in shares of Alphabet by 0.3% in the second quarter. First Bank & Trust now owns 764 shares of the information services provider’s stock valued at $710,000 after buying an additional 2 shares in the last quarter. Finally, Fort Pitt Capital Group LLC increased its position in shares of Alphabet by 0.3% in the second quarter. Fort Pitt Capital Group LLC now owns 723 shares of the information services provider’s stock valued at $672,000 after buying an additional 2 shares in the last quarter. Institutional investors and hedge funds own 33.85% of the company’s stock.

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:GOOGL)

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