Alphabet (GOOG) Upgraded by Vetr to Buy
Vetr upgraded shares of Alphabet (NASDAQ:GOOG) from a hold rating to a buy rating in a report released on Monday morning. Vetr currently has $1,172.75 target price on the information services provider’s stock.
Other analysts have also issued reports about the company. BidaskClub raised Alphabet from a buy rating to a strong-buy rating in a report on Wednesday, January 10th. TheStreet lowered Alphabet from an a rating to a c+ rating in a report on Thursday, February 1st. Deutsche Bank reissued a buy rating on shares of Alphabet in a report on Monday, January 29th. Stifel Nicolaus lowered Alphabet from a buy rating to a hold rating and set a $1,150.00 target price on the stock. in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. reissued a buy rating on shares of Alphabet in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-six have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $1,073.56.
Shares of Alphabet stock opened at $1,049.08 on Monday. The stock has a market capitalization of $762,670.25, a price-to-earnings ratio of 58.41 and a beta of 1.04. Alphabet has a 1-year low of $803.37 and a 1-year high of $1,186.89. 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 buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $1,065.21, for a total transaction of $4,260,840.00. Following the completion of the transaction, the chief executive officer now directly owns 1,031 shares in the company, valued at $1,098,231.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director L John Doerr sold 11,575 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $1,079.99, for a total value of $12,500,884.25. Following the transaction, the director now owns 3,485 shares of the company’s stock, valued at $3,763,765.15. The disclosure for this sale can be found here. Insiders have sold 48,709 shares of company stock valued at $53,035,301 over the last 90 days. 13.92% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of GOOG. Stuart Chaussee & Associates Inc. increased its holdings in Alphabet by 108.3% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after purchasing an additional 52 shares in the last quarter. Burt Wealth Advisors increased its holdings in Alphabet by 17.2% in the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after purchasing an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its holdings in Alphabet by 3.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after purchasing an additional 5 shares in the last quarter. Price Wealth Management Inc. bought a new stake in Alphabet in the fourth quarter worth approximately $125,000. Finally, Archford Capital Strategies LLC increased its holdings in Alphabet by 400.0% in the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after purchasing an additional 832 shares in the last quarter. Institutional investors own 34.84% 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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