Alphabet (NASDAQ:GOOGL) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday. The brokerage presently has a $1,156.80 target price on the information services provider’s stock. Vetr‘s price target would suggest a potential upside of 13.40% from the company’s current price.
A number of other analysts have also recently weighed in on GOOGL. SunTrust Banks reduced their price objective on shares of Alphabet from $1,250.00 to $1,180.00 in a research note on Monday, January 15th. Argus boosted their price objective on shares of Alphabet to $1,300.00 in a research note on Monday, February 5th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 price objective for the company in a research note on Monday, January 29th. Monness Crespi & Hardt restated a “buy” rating and issued a $1,250.00 price objective (up from $1,120.00) on shares of Alphabet in a research note on Monday, January 29th. Finally, Robert W. Baird restated a “buy” rating and issued a $1,150.00 price objective on shares of Alphabet in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,175.85.
NASDAQ GOOGL opened at $1,020.09 on Tuesday. 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 $701,696.13, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 1.08 and a beta of 1.05. Alphabet has a 12-month low of $834.60 and a 12-month high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last posted 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 $10.12 by ($0.42). The business had revenue of $25.87 billion during the quarter, compared to analyst estimates of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. analysts anticipate that Alphabet will post 41.21 EPS for the current fiscal year.
Alphabet announced that its board has authorized a stock buyback program on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of GOOGL. Magellan Asset Management Ltd grew its holdings in shares of Alphabet by 700.9% in the 4th quarter. Magellan Asset Management Ltd now owns 2,126,562 shares of the information services provider’s stock worth $2,225,234,000 after purchasing an additional 1,861,056 shares during the last quarter. Koch Industries Inc. grew its holdings in shares of Alphabet by 181,219.4% in the 2nd quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock worth $1,085,000 after purchasing an additional 1,085,504 shares during the last quarter. Vanguard Group Inc. lifted its position in Alphabet by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after buying an additional 662,279 shares in the last quarter. BlackRock Inc. lifted its position in Alphabet by 3.1% during the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after buying an additional 567,337 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Alphabet by 54.9% during the 4th quarter. California Public Employees Retirement System now owns 1,055,580 shares of the information services provider’s stock worth $1,111,948,000 after buying an additional 374,121 shares in the last quarter. 34.38% of the stock is currently owned by institutional investors and hedge funds.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
To view Vetr’s full report, visit Vetr’s official website.
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