Alphabet (GOOG) Upgraded by Vetr to Sell

Vetr upgraded shares of Alphabet (NASDAQ:GOOG) from a strong sell rating to a sell rating in a research report report published on Tuesday, January 30th. The firm currently has $1,040.56 price target on the information services provider’s stock.

A number of other analysts also recently issued reports on the company. Deutsche Bank reiterated a buy rating on shares of Alphabet in a research report on Monday, January 29th. Morgan Stanley reiterated a buy rating on shares of Alphabet in a research report on Friday, January 26th. Goldman Sachs Group reiterated a buy rating on shares of Alphabet in a research report on Thursday, January 25th. Morningstar reissued a neutral rating on shares of Alphabet in a research note on Friday, January 19th. Finally, SunTrust Banks lifted their price objective on Alphabet to $1,250.00 and gave the company a buy rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have issued a buy rating to the company. Alphabet has an average rating of Buy and an average price target of $1,061.93.

Alphabet (NASDAQ:GOOG) traded up $17.60 during mid-day trading on Tuesday, hitting $1,069.70. The stock had a trading volume of 1,560,000 shares, compared to its average volume of 1,840,000. Alphabet has a 52 week low of $803.37 and a 52 week high of $1,186.89. 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 company has a market capitalization of $744,090.00, a price-to-earnings ratio of 59.56 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The firm had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. During the same period in the prior year, the business earned $9.36 earnings per share. The business’s quarterly revenue was up 24.0% compared to the same quarter last year.

Alphabet declared that its board has initiated a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In other news, Director Ann Mather sold 38 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the transaction, the director now directly owns 1,813 shares of the company’s stock, valued at approximately $1,841,645.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James Grier Campbell sold 184 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $1,012.66, for a total value of $186,329.44. The disclosure for this sale can be found here. Insiders sold a total of 27,435 shares of company stock worth $29,030,612 over the last ninety days. 13.92% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC increased its stake in Alphabet by 0.4% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after buying an additional 1 shares in the last quarter. Capital Advantage Inc. boosted its holdings in shares of Alphabet by 0.4% during the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after purchasing an additional 1 shares during the last quarter. Foster & Motley Inc. boosted its holdings in shares of Alphabet by 0.8% during the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock valued at $241,000 after purchasing an additional 2 shares during the last quarter. Saratoga Research & Investment Management boosted its holdings in shares of Alphabet by 1.2% during the 2nd quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock valued at $234,000 after purchasing an additional 3 shares during the last quarter. Finally, Edge Wealth Management LLC boosted its holdings in shares of Alphabet by 0.9% during the 2nd quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock valued at $309,000 after purchasing an additional 3 shares during the last quarter. 34.46% of the stock is currently owned by hedge funds and other institutional investors.

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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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