Alphabet Inc. (GOOG) Upgraded to Strong-Buy by Vetr Inc.
Vetr upgraded shares of Alphabet Inc. (NASDAQ:GOOG) from a buy rating to a strong-buy rating in a research report report published on Thursday morning. Vetr currently has $1,057.00 price target on the information services provider’s stock.
Other analysts have also recently issued reports about the company. Needham & Company LLC restated a buy rating and set a $1,050.00 price target (up from $935.00) on shares of Alphabet in a report on Friday, April 28th. Instinet restated a buy rating and set a $925.00 price target on shares of Alphabet in a report on Wednesday, April 26th. MKM Partners restated a buy rating and set a $1,000.00 price target on shares of Alphabet in a report on Tuesday, April 25th. Nomura restated a buy rating and set a $925.00 price target on shares of Alphabet in a report on Monday, April 24th. Finally, Macquarie reiterated a buy rating and issued a $975.00 target price on shares of Alphabet in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have given a buy rating and two have issued a strong buy rating to the company’s stock. Alphabet has a consensus rating of Buy and a consensus target price of $1,017.39.
Shares of Alphabet (NASDAQ:GOOG) traded down 1.17% on Thursday, hitting $930.50. 1,955,964 shares of the stock traded hands. The stock has a market cap of $644.72 billion, a PE ratio of 33.72 and a beta of 0.95. Alphabet has a 1-year low of $727.54 and a 1-year high of $988.25. The stock has a 50 day moving average of $944.07 and a 200-day moving average of $881.26.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted $8.42 earnings per share. On average, equities research analysts expect that Alphabet will post $30.74 EPS for the current year.
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In other news, VP James Grier Campbell sold 183 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $968.95, for a total transaction of $177,317.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shirley M. Tilghman sold 525 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $938.09, for a total value of $492,497.25. Following the transaction, the director now owns 5,517 shares of the company’s stock, valued at approximately $5,175,442.53. The disclosure for this sale can be found here. Insiders have sold a total of 44,542 shares of company stock valued at $41,955,126 in the last quarter. 13.92% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Marietta Wealth Management LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $235,000. Gardner Russo & Gardner LLC increased its position in shares of Alphabet by 43.7% in the fourth quarter. Gardner Russo & Gardner LLC now owns 2,449 shares of the information services provider’s stock valued at $1,890,000 after buying an additional 745 shares in the last quarter. InterOcean Capital LLC increased its position in shares of Alphabet by 10.9% in the fourth quarter. InterOcean Capital LLC now owns 15,694 shares of the information services provider’s stock valued at $12,113,000 after buying an additional 1,537 shares in the last quarter. Parallel Advisors LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $2,036,000. Finally, Brenner West Capital Advisors LP bought a new position in shares of Alphabet during the fourth quarter valued at approximately $102,649,000. Institutional investors and hedge funds own 34.60% of the company’s stock.
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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