Alphabet Inc. (GOOG) Raised to Hold at Vetr Inc.

Vetr upgraded shares of Alphabet Inc. (NASDAQ:GOOG) from a sell rating to a hold rating in a research report report published on Wednesday, May 10th. The brokerage currently has $902.00 price target on the information services provider’s stock.

A number of other equities research analysts also recently weighed in on GOOG. Cowen and Company lifted their price target on shares of Alphabet from $1,000.00 to $1,050.00 and gave the stock an outperform rating in a research note on Tuesday, January 10th. Robert W. Baird reissued an outperform rating on shares of Alphabet in a report on Thursday, January 12th. Jefferies Group LLC reissued a buy rating and set a $1,000.00 price objective on shares of Alphabet in a report on Thursday, January 12th. J P Morgan Chase & Co reissued a buy rating on shares of Alphabet in a report on Wednesday, January 18th. Finally, Pacific Crest began coverage on Alphabet in a report on Friday, January 20th. They set an overweight rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have given a buy rating to the company’s stock. Alphabet currently has an average rating of Buy and an average price target of $985.12.

Shares of Alphabet (NASDAQ GOOG) traded down 0.89% during mid-day trading on Wednesday, hitting $942.31. 2,133,050 shares of the company’s stock were exchanged. Alphabet has a 52 week low of $663.28 and a 52 week high of $988.25. The firm has a 50 day moving average price of $944.37 and a 200-day moving average price of $846.37. The company has a market capitalization of $651.84 billion, a price-to-earnings ratio of 31.84 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.38 by $0.35. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. During the same quarter in the previous year, the company earned $7.50 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet will post $33.88 EPS for the current year.

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In related news, SVP David C. Drummond sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $948.90, for a total value of $1,897,800.00. Following the sale, the senior vice president now directly owns 2,800 shares of the company’s stock, valued at $2,656,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Diane B. Greene sold 1,863 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $902.72, for a total value of $1,681,767.36. Following the completion of the sale, the insider now directly owns 85,916 shares in the company, valued at $77,558,091.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,085 shares of company stock worth $38,486,001. 13.92% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of GOOG. Vanguard Group Inc. increased its position in Alphabet by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,850,384 shares of the information services provider’s stock valued at $16,467,085,000 after buying an additional 754,370 shares in the last quarter. BlackRock Inc. increased its position in Alphabet by 2,553.3% in the first quarter. BlackRock Inc. now owns 17,231,526 shares of the information services provider’s stock valued at $14,294,584,000 after buying an additional 16,582,087 shares in the last quarter. State Street Corp increased its position in Alphabet by 0.3% in the first quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock valued at $10,010,859,000 after buying an additional 36,864 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Alphabet by 0.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,831,305 shares of the information services provider’s stock valued at $7,641,775,000 after buying an additional 65,873 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Alphabet by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,897,508 shares of the information services provider’s stock valued at $6,138,654,000 after buying an additional 138,807 shares in the last quarter. Hedge funds and other institutional investors own 35.09% of the company’s stock.

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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