Alphabet Inc. (GOOGL) Lowered to Hold at Vetr Inc.
Vetr cut shares of Alphabet Inc. (NASDAQ:GOOGL) from a buy rating to a hold rating in a research note released on Friday morning. They currently have $1,007.29 price objective on the information services provider’s stock.
A number of other equities analysts have also commented on GOOGL. B. Riley reaffirmed a buy rating and issued a $1,050.00 price objective on shares of Alphabet in a research note on Sunday, July 30th. Cowen and Company reiterated an outperform rating and issued a $1,075.00 target price on shares of Alphabet in a research report on Thursday, August 10th. Bank of America Corporation reiterated a buy rating and issued a $1,100.00 target price on shares of Alphabet in a research report on Tuesday, September 26th. Wells Fargo & Company reiterated an outperform rating and issued a $1,250.00 target price on shares of Alphabet in a research report on Wednesday, September 27th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Alphabet in a research report on Tuesday, August 15th. They issued a buy rating and a $1,100.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company. Alphabet currently has an average rating of Buy and a consensus target price of $1,057.04.
Shares of Alphabet (NASDAQ:GOOGL) traded up 0.86% during midday trading on Friday, hitting $993.64. The stock had a trading volume of 1,553,033 shares. Alphabet has a one year low of $743.59 and a one year high of $1,008.61. The company has a market cap of $688.47 billion, a P/E ratio of 36.01 and a beta of 0.96. The firm has a 50 day moving average of $947.52 and a 200-day moving average of $937.02.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the prior year, the business posted $8.42 EPS. On average, analysts forecast that Alphabet will post $30.59 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in GOOGL. State of Alaska Department of Revenue bought a new position in shares of Alphabet in the second quarter worth about $102,000. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Alphabet in the first quarter worth about $108,000. Delta Asset Management LLC TN raised its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after acquiring an additional 2 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares during the last quarter. Finally, Odey Holdings AG raised its stake in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares during the last quarter. 33.85% of the stock is owned by institutional investors.
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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