Alphabet (GOOG) Stock Rating Upgraded by Vetr
Vetr upgraded shares of Alphabet (NASDAQ:GOOG) from a hold rating to a buy rating in a report issued on Thursday. Vetr currently has $1,131.91 price objective on the information services provider’s stock.
A number of other equities analysts have also commented on the stock. BidaskClub raised shares of Alphabet from a buy rating to a strong-buy rating in a research report on Wednesday. Morgan Stanley reiterated a buy rating on shares of Alphabet in a research note on Tuesday, February 27th. TheStreet downgraded shares of Alphabet from an a rating to a c+ rating in a research note on Thursday, February 1st. Stifel Nicolaus downgraded shares of Alphabet from a buy rating to a hold rating and set a $1,150.00 price objective on the stock. in a research note on Friday, February 2nd. Finally, Piper Jaffray Companies reiterated an overweight rating on shares of Alphabet in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $1,066.64.
Alphabet (NASDAQ GOOG) traded up $9.40 during trading hours on Thursday, reaching $1,078.92. 2,271,551 shares of the company were exchanged, compared to its average volume of 2,124,334. Alphabet has a 1-year low of $803.37 and a 1-year high of $1,186.89. The company has a market capitalization of $749,615.31, a price-to-earnings ratio of 60.07 and a beta of 1.04. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.
Alphabet declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Ann Mather sold 37 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $1,107.87, for a total value of $40,991.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the completion of the transaction, the chief executive officer now owns 1,178 shares of the company’s stock, valued at approximately $1,181,369.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,009 shares of company stock valued at $45,960,607. 13.92% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. ADAMCAPITAL Gestao de Recursos Ltda. bought a new position in Alphabet during the 4th quarter worth approximately $134,047,000. Green Square Capital LLC raised its holdings in Alphabet by 2.8% during the 4th quarter. Green Square Capital LLC now owns 3,608 shares of the information services provider’s stock worth $3,775,000 after purchasing an additional 99 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Alphabet by 1.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 24,304 shares of the information services provider’s stock worth $25,432,000 after purchasing an additional 447 shares during the last quarter. Certified Advisory Corp bought a new position in Alphabet during the 4th quarter worth approximately $401,000. Finally, Fairfield Bush & CO. raised its holdings in Alphabet by 7.1% during the 4th quarter. Fairfield Bush & CO. now owns 12,000 shares of the information services provider’s stock worth $12,557,000 after purchasing an additional 792 shares during the last quarter. Institutional investors and hedge funds own 34.34% of the company’s stock.
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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.
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