Alphabet Inc. (GOOG) Upgraded to Buy by Vetr Inc.

Alphabet Inc. (NASDAQ:GOOG) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $1,067.64 price objective on the information services provider’s stock. Vetr‘s price target indicates a potential upside of 3.85% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $1,100.00 price target (up previously from $1,050.00) on shares of Alphabet in a research note on Tuesday, July 25th. UBS AG reiterated a “buy” rating and set a $1,080.00 price target on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $1,220.00 price target on shares of Alphabet in a research note on Friday, July 21st. 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 currently has an average rating of “Buy” and a consensus target price of $1,047.52.

Shares of Alphabet (NASDAQ GOOG) traded down $3.19 during trading on Monday, hitting $1,028.07. 720,600 shares of the stock traded hands, compared to its average volume of 1,500,613. Alphabet has a fifty-two week low of $727.54 and a fifty-two week high of $1,048.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The firm has a market cap of $714,304.06, a PE ratio of 34.42 and a beta of 0.95.

Alphabet (NASDAQ:GOOG) last issued its earnings results 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. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. During the same quarter in the prior year, the business posted $9.06 EPS. The company’s revenue for the quarter was up 23.7% on a year-over-year basis.

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In other Alphabet news, Director L John Doerr sold 13,556 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total value of $12,500,665.40. Following the sale, the director now directly owns 3,485 shares in the company, valued at $3,213,692.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $926.79, for a total transaction of $3,707,160.00. Following the completion of the sale, the chief executive officer now owns 1,389 shares in the company, valued at $1,287,311.31. The disclosure for this sale can be found here. Insiders sold 39,714 shares of company stock valued at $37,563,065 in the last ninety days. Corporate insiders own 13.92% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of GOOG. Janus Henderson Group PLC raised its holdings in Alphabet by 759.0% during the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after buying an additional 2,831,099 shares during the period. Harbour Capital Advisors LLC raised its holdings in Alphabet by 87,001.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after buying an additional 1,991,465 shares during the period. Koch Industries Inc. raised its holdings in Alphabet by 214,636.6% during the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after buying an additional 1,161,184 shares during the period. BlackRock Inc. raised its holdings in Alphabet by 4.8% during the 2nd 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 during the period. Finally, Capital World Investors raised its holdings in Alphabet by 13.9% during the 2nd 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 during the period. Hedge funds and other institutional investors own 34.28% 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.

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