Alphabet (GOOGL) Rating Lowered to Buy at Vetr

Alphabet (NASDAQ:GOOGL) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday, February 6th. They currently have a $1,211.78 price target on the information services provider’s stock. Vetr‘s price target would indicate a potential upside of 14.95% from the stock’s current price.

Several other analysts have also recently commented on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a research note on Tuesday, October 24th. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price objective for the company in a research note on Tuesday, December 26th. SunTrust Banks lowered their price objective on shares of Alphabet from $1,250.00 to $1,180.00 in a research note on Monday, January 15th. Cowen boosted their price objective on shares of Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Finally, Citigroup reissued a “buy” rating and set a $1,180.00 price objective on shares of Alphabet in a research note on Tuesday, October 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $1,157.02.

Shares of Alphabet (NASDAQ GOOGL) traded down $0.42 on Tuesday, hitting $1,054.14. 1,579,200 shares of the stock traded hands, compared to its average volume of 2,153,009. Alphabet has a twelve month low of $824.30 and a twelve month high of $1,198.00. The firm has a market capitalization of $744,940.00, a P/E ratio of 59.70, a price-to-earnings-growth ratio of 1.09 and a beta of 0.95. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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 $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion. sell-side analysts forecast that Alphabet will post 42.51 earnings per share for the current fiscal year.

Alphabet declared that its board has approved a stock repurchase program on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Large investors have recently modified their holdings of the company. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $108,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $123,000. Financial Gravity Companies Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $138,000. Lee Financial Co lifted its position in shares of Alphabet by 500.0% in the 4th quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock valued at $126,000 after acquiring an additional 100 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Alphabet by 39.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares in the last quarter. 33.60% of the stock is owned by institutional investors.

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About Alphabet

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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