Alphabet Inc (GOOG) Downgraded by Vetr Inc.
Alphabet Inc (NASDAQ:GOOG) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday. They currently have a $1,034.88 target price on the information services provider’s stock. Vetr‘s target price would indicate a potential upside of 11.64% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Instinet reissued a “buy” rating and set a $925.00 price objective on shares of Alphabet in a research note on Wednesday, April 26th. MKM Partners reissued a “buy” rating and set a $1,000.00 price objective on shares of Alphabet in a research note on Tuesday, April 25th. Nomura reissued a “buy” rating and set a $925.00 price objective on shares of Alphabet in a research note on Monday, April 24th. Atlantic Securities reissued a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have given a buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,030.56.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.51% during midday trading on Wednesday, reaching $926.96. The company had a trading volume of 1,006,711 shares. Alphabet has a 52 week low of $727.54 and a 52 week high of $988.25. The stock has a 50-day moving average of $934.56 and a 200 day moving average of $891.60. The firm has a market capitalization of $642.27 billion, a price-to-earnings ratio of 33.59 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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. Alphabet had a return on equity of 9.64% and a net margin of 13.55%. The company had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same period in the previous year, the firm posted $8.42 earnings per share. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, analysts anticipate that Alphabet will post $30.59 earnings per share for the current year.
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In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $981.45, for a total value of $3,925,800.00. Following the transaction, the chief executive officer now directly owns 2,058 shares of the company’s stock, valued at approximately $2,019,824.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 629 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $932.28, for a total value of $586,404.12. Following the completion of the transaction, the director now directly owns 1,781 shares in the company, valued at $1,660,390.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,169 shares of company stock worth $44,206,482. 13.92% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Alphabet during the fourth quarter valued at approximately $249,975,000. LeJeune Puetz Investment Counsel LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $1,979,000. Wall Street Access Asset Management LLC raised its stake in Alphabet by 16.7% in the fourth quarter. Wall Street Access Asset Management LLC now owns 1,228 shares of the information services provider’s stock valued at $957,000 after buying an additional 176 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in Alphabet during the fourth quarter valued at approximately $3,007,000. Finally, Pacific Center for Financial Services acquired a new stake in Alphabet during the fourth quarter valued at approximately $142,000. 34.57% of the stock is currently owned by institutional investors.
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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