Vetr upgraded shares of Alphabet Inc. (NASDAQ:GOOGL) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $1,020.52 price objective on the information services provider’s stock.

A number of other equities analysts have also recently issued reports on GOOGL. UBS AG restated a buy rating and issued a $980.00 price objective on shares of Alphabet in a research note on Monday, March 27th. B. Riley restated a buy rating and issued a $1,032.00 price objective on shares of Alphabet in a research note on Wednesday, May 3rd. Barclays PLC restated an overweight rating and issued a $1,060.00 price objective (down previously from $1,065.00) on shares of Alphabet in a research note on Tuesday. JMP Securities restated a buy rating and issued a $1,077.00 price objective (down previously from $1,095.00) on shares of Alphabet in a research note on Tuesday. Finally, FBR & Co restated an outperform rating and issued a $1,050.00 price objective (up previously from $1,032.00) on shares of Alphabet in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $1,042.37.

Alphabet (GOOGL) traded up 0.61% on Tuesday, hitting $958.33. 1,813,794 shares of the stock traded hands. The firm has a market cap of $664.01 billion, a price-to-earnings ratio of 34.73 and a beta of 1.00. The stock has a 50-day moving average of $964.19 and a 200-day moving average of $901.58. Alphabet has a 12-month low of $743.59 and a 12-month high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the company posted $8.42 EPS. Analysts forecast that Alphabet will post $30.63 earnings per share for the current year.

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Institutional investors have recently modified their holdings of the company. Marietta Wealth Management LLC acquired a new position in shares of Alphabet during the fourth quarter valued at $1,855,000. Ally Financial Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at $19,811,000. Azimuth Capital Management LLC boosted its position in shares of Alphabet by 6.1% in the fourth quarter. Azimuth Capital Management LLC now owns 14,352 shares of the information services provider’s stock valued at $11,373,000 after buying an additional 823 shares in the last quarter. Mayo Investment Advisers LLC boosted its position in shares of Alphabet by 1.2% in the fourth quarter. Mayo Investment Advisers LLC now owns 28,089 shares of the information services provider’s stock valued at $22,259,000 after buying an additional 340 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. boosted its position in shares of Alphabet by 2.1% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 8,788 shares of the information services provider’s stock valued at $6,964,000 after buying an additional 180 shares in the last quarter. 34.36% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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