Alphabet (GOOGL) Lifted to Buy at Vetr
Vetr upgraded shares of Alphabet (NASDAQ:GOOGL) from a hold rating to a buy rating in a report published on Monday morning. They currently have $1,055.90 target price on the information services provider’s stock.
GOOGL has been the topic of several other reports. UBS reaffirmed an overweight rating on shares of Alphabet in a research report on Thursday, August 24th. Stifel Nicolaus increased their price objective on Alphabet from $1,075.00 to $1,150.00 and gave the company a buy rating in a report on Monday, October 30th. Bank of America reissued a buy rating and issued a $1,100.00 price objective on shares of Alphabet in a report on Tuesday, September 26th. Robert W. Baird reissued an outperform rating and issued a $1,100.00 price objective on shares of Alphabet in a report on Saturday, August 26th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $1,150.00 price objective on shares of Alphabet in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of Buy and an average price target of $1,089.17.
Alphabet (NASDAQ:GOOGL) traded up $13.12 on Monday, hitting $1,032.72. The stock had a trading volume of 1,435,500 shares, compared to its average volume of 1,630,326. The company has a market cap of $708,419.13, a price-to-earnings ratio of 34.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.89. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet has a 52-week low of $773.53 and a 52-week high of $1,080.00.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same period in the prior year, the company posted $9.06 EPS. research analysts forecast that Alphabet will post 32.34 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of GOOGL. State of Alaska Department of Revenue acquired a new stake in shares of Alphabet in the second quarter valued at approximately $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Alphabet during the first quarter worth $108,000. Parkside Financial Bank & Trust increased its stake in Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares during the last quarter. Odey Holdings AG increased its stake in Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares during the last quarter. Finally, Stelac Advisory Services LLC acquired a new stake in Alphabet during the third quarter worth $126,000. Institutional investors own 33.62% of the company’s stock.
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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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