Alphabet (GOOGL) Upgraded by Vetr to Strong-Buy
Vetr upgraded shares of Alphabet (NASDAQ:GOOGL) from a buy rating to a strong-buy rating in a report released on Monday morning. They currently have $1,243.88 price objective on the information services provider’s stock.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Alphabet from a buy rating to a hold rating in a research note on Wednesday, January 17th. Barclays lifted their price objective on Alphabet from $1,260.00 to $1,330.00 and gave the company an overweight rating in a research note on Friday, February 2nd. Stifel Nicolaus cut Alphabet from a buy rating to a hold rating and set a $1,150.00 price objective for the company. in a research note on Friday, February 2nd. Cantor Fitzgerald reaffirmed a buy rating and issued a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, October 24th. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $1,285.00 price objective on shares of Alphabet in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $1,157.02.
Shares of Alphabet (NASDAQ GOOGL) opened at $1,007.71 on Monday. Alphabet has a one year low of $824.30 and a one year high of $1,198.00. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $698,000.00, a price-to-earnings ratio of 56.11, a PEG ratio of 1.09 and a beta of 0.95.
Alphabet announced that its board has authorized a stock buyback plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the business. Stuart Chaussee & Associates Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $123,000. Parkside Financial Bank & Trust increased its position in Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after purchasing an additional 36 shares during the period. Stelac Advisory Services LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $126,000. Odey Holdings AG increased its position in Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares during the period. Finally, Wealthcare Advisory Partners LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $137,000. 33.61% of the stock is owned by hedge funds and other 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.
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