Vetr Inc. Upgrades Alphabet Inc (NASDAQ:GOOGL) to “Hold”

Alphabet Inc (NASDAQ:GOOGL) was upgraded by stock analysts at Vetr from a “sell” rating to a “hold” rating in a report issued on Monday, November 6th. The firm presently has a $1,027.27 price target on the information services provider’s stock. Vetr‘s target price suggests a potential downside of 2.77% from the company’s current price.

Several other brokerages have also recently issued reports on GOOGL. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a report on Saturday, September 23rd. Cantor Fitzgerald restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a report on Tuesday, October 24th. Wells Fargo & Company restated an “outperform” rating and set a $1,150.00 price target on shares of Alphabet in a report on Saturday, July 22nd. Zacks Investment Research lowered Alphabet from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $1,258.00 target price (up previously from $1,250.00) on shares of Alphabet in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet has an average rating of “Buy” and an average price target of $1,088.53.

Alphabet (NASDAQ GOOGL) traded up $4.60 on Monday, hitting $1,056.52. The stock had a trading volume of 825,369 shares, compared to its average volume of 1,490,000. Alphabet has a 12-month low of $753.36 and a 12-month high of $1,063.62. 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 cap of $728,470.00, a price-to-earnings ratio of 35.22, a PEG ratio of 1.77 and a beta of 0.91.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The firm had revenue of $22.27 billion during the quarter, compared to analyst estimates of $21.94 billion. Alphabet had a net margin of 24.24% and a return on equity of 17.68%. During the same quarter in the prior year, the firm earned $9.06 EPS. equities analysts anticipate that Alphabet will post 32.34 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of GOOGL. NBT Bank N A NY boosted its position in shares of Alphabet by 12.1% in the 1st quarter. NBT Bank N A NY now owns 4,813 shares of the information services provider’s stock valued at $4,080,000 after purchasing an additional 520 shares during the period. Mycio Wealth Partners LLC raised its stake in Alphabet by 15.2% during the 1st quarter. Mycio Wealth Partners LLC now owns 3,979 shares of the information services provider’s stock valued at $3,373,000 after acquiring an additional 524 shares during the last quarter. Delta Asset Management LLC TN raised its stake in Alphabet by 1.5% during the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 2 shares during the last quarter. Duncker Streett & Co. Inc. raised its stake in Alphabet by 13.3% during the 1st quarter. Duncker Streett & Co. Inc. now owns 2,424 shares of the information services provider’s stock valued at $2,055,000 after acquiring an additional 285 shares during the last quarter. Finally, Adviser Investments LLC raised its stake in shares of Alphabet by 1,119.5% during the 1st quarter. Adviser Investments LLC now owns 4,073 shares of the information services provider’s stock worth $3,453,000 after buying an additional 3,739 shares in the last quarter. Institutional investors own 33.68% of the company’s stock.

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About Alphabet

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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