Alphabet Inc (NASDAQ:GOOG) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $891.70 price target on the stock. Vetr‘s target price would indicate a potential upside of 5.12% from the company’s previous close.
Several other brokerages have also commented on GOOG. Cantor Fitzgerald reissued a “buy” rating and set a $1,040.00 price objective on shares of Alphabet in a research report on Saturday, December 10th. Jefferies Group LLC reissued a “buy” rating and set a $1,000.00 price objective on shares of Alphabet in a research report on Friday, December 23rd. Aegis reissued a “buy” rating and set a $1,011.00 price objective on shares of Alphabet in a research report on Tuesday, January 31st. Robert W. Baird reissued an “outperform” rating and set a $960.00 price objective on shares of Alphabet in a research report on Thursday, February 9th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $1,090.00 price objective (up previously from $1,080.00) on shares of Alphabet in a research report on Friday, January 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and forty-two have issued a buy rating to the company. Alphabet currently has an average rating of “Buy” and an average target price of $960.20.
Shares of Alphabet (NASDAQ:GOOG) traded down 0.44% during trading on Monday, reaching $848.40. 1,231,521 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $824.43 and a 200 day moving average price of $793.16. Alphabet has a 12 month low of $663.28 and a 12 month high of $853.40. The firm has a market cap of $586.60 billion, a price-to-earnings ratio of 30.43 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, January 26th. The company reported $9.36 EPS for the quarter, missing the consensus estimate of $9.67 by $0.31. The firm had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $25.18 billion. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $8.67 EPS. On average, analysts forecast that Alphabet will post $33.36 EPS for the current year.
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In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $849.50, for a total value of $3,398,000.00. Following the transaction, the chief executive officer now directly owns 2,123 shares of the company’s stock, valued at approximately $1,803,488.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $852.42, for a total value of $1,704,840.00. Following the completion of the transaction, the senior vice president now directly owns 5,800 shares in the company, valued at $4,944,036. The disclosure for this sale can be found here. Over the last three months, insiders sold 585,906 shares of company stock worth $471,330,236. 13.92% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of GOOG. Signature Estate & Investment Advisors LLC acquired a new position in Alphabet during the third quarter worth approximately $102,000. Empirical Finance LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at about $115,000. Quantbot Technologies LP boosted its stake in shares of Alphabet by 64.2% in the third quarter. Quantbot Technologies LP now owns 156 shares of the company’s stock valued at $121,000 after buying an additional 61 shares during the period. Trust Department MB Financial Bank N A boosted its stake in shares of Alphabet by 3.0% in the third quarter. Trust Department MB Financial Bank N A now owns 170 shares of the company’s stock valued at $132,000 after buying an additional 5 shares during the period. Finally, Pacific Center for Financial Services purchased a new stake in shares of Alphabet during the fourth quarter valued at about $142,000. 34.74% of the stock is currently owned by institutional investors.
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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