Vetr upgraded shares of Alphabet (NASDAQ:GOOG) from a strong sell rating to a sell rating in a research report report published on Monday. Vetr currently has $1,040.56 price target on the information services provider’s stock.

A number of other brokerages have also recently commented on GOOG. Deutsche Bank reaffirmed a buy rating on shares of Alphabet in a report on Monday, January 29th. Morgan Stanley reaffirmed a buy rating on shares of Alphabet in a report on Friday, January 26th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Alphabet in a report on Friday, February 2nd. Jefferies Group reaffirmed a buy rating on shares of Alphabet in a report on Friday, February 2nd. Finally, Stifel Nicolaus reaffirmed a neutral rating on shares of Alphabet in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty-five have assigned a buy rating to the company’s stock. Alphabet presently has a consensus rating of Buy and a consensus price target of $1,061.56.

Alphabet (NASDAQ:GOOG) opened at $1,001.52 on Monday. Alphabet has a twelve month low of $803.19 and a twelve month high of $1,186.89. The company has a market capitalization of $698,110.00, a price-to-earnings ratio of 55.76 and a beta of 1.01. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. During the same period in the prior year, the business posted $9.36 earnings per share. Alphabet’s revenue for the quarter was up 24.0% compared to the same quarter last year.

Alphabet declared that its Board of Directors has authorized a share buyback plan on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, Director L John Doerr sold 12,236 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total transaction of $12,499,930.52. Following the completion of the transaction, the director now owns 3,485 shares in the company, valued at $3,560,171.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $1,020.69, for a total value of $4,082,760.00. Following the transaction, the chief executive officer now owns 949 shares of the company’s stock, valued at approximately $968,634.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,981 shares of company stock valued at $35,552,537. Company insiders own 13.92% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC grew its position in Alphabet by 0.4% in the second quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after acquiring an additional 1 shares in the last quarter. Capital Advantage Inc. boosted its position in shares of Alphabet by 0.4% during the second quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after buying an additional 1 shares during the period. Foster & Motley Inc. boosted its position in shares of Alphabet by 0.8% during the second quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock valued at $241,000 after buying an additional 2 shares during the period. Saratoga Research & Investment Management boosted its position in shares of Alphabet by 1.2% during the second quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock valued at $234,000 after buying an additional 3 shares during the period. Finally, Edge Wealth Management LLC boosted its position in shares of Alphabet by 0.9% during the second quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock valued at $309,000 after buying an additional 3 shares during the period. Institutional investors own 34.64% 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.

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