Alphabet (GOOGL) Stock Rating Lowered by Vetr

Alphabet (NASDAQ:GOOGL) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Thursday. They presently have a $1,241.78 price target on the information services provider’s stock. Vetr‘s price objective indicates a potential upside of 11.50% from the stock’s previous close.

Several other research analysts have also recently commented on GOOGL. B. Riley reaffirmed a “buy” rating and set a $1,200.00 target price (up from $1,050.00) on shares of Alphabet in a report on Friday, October 27th. Barclays reaffirmed a “buy” rating and set a $1,260.00 target price on shares of Alphabet in a report on Friday, October 27th. SunTrust Banks reaffirmed a “buy” rating and set a $1,180.00 target price (up from $1,100.00) on shares of Alphabet in a report on Friday, October 27th. Royal Bank of Canada raised their target price on shares of Alphabet from $1,050.00 to $1,125.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, Oppenheimer raised their target price on shares of Alphabet from $1,050.00 to $1,180.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,161.00.

Alphabet (NASDAQ GOOGL) opened at $1,113.75 on Thursday. Alphabet has a fifty-two week low of $824.30 and a fifty-two week high of $1,198.00. The company has a market cap of $773,580.00, a P/E ratio of 34.70, a PEG ratio of 1.13 and a beta of 0.95. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. research analysts predict that Alphabet will post 42.52 EPS for the current fiscal year.

Alphabet announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 3.3% during the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after purchasing an additional 662,279 shares during the period. BlackRock Inc. lifted its holdings in shares of Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after purchasing an additional 567,337 shares during the period. FMR LLC lifted its holdings in shares of Alphabet by 2.1% during the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after purchasing an additional 367,634 shares during the period. Capital Research Global Investors lifted its holdings in shares of Alphabet by 2.4% during the second quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock worth $4,005,243,000 after purchasing an additional 102,133 shares during the period. Finally, Capital World Investors lifted its holdings in shares of Alphabet by 7.8% during the second quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock worth $3,607,142,000 after purchasing an additional 280,710 shares during the period. Hedge funds and other institutional investors own 33.29% of the company’s stock.

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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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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