Vetr Inc. Upgrades Alphabet Inc. (GOOGL) to Hold

Vetr upgraded shares of Alphabet Inc. (NASDAQ:GOOGL) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning. Vetr currently has $1,004.07 price target on the information services provider’s stock.

Several other research analysts have also commented on the company. Societe Generale set a $1,210.00 target price on Alphabet and gave the stock a buy rating in a research report on Friday, July 7th. They noted that the move was a valuation call. SunTrust Banks, Inc. reiterated a buy rating and issued a $1,100.00 target price on shares of Alphabet in a research report on Saturday, September 23rd. Wells Fargo & Company reiterated an outperform rating and issued a $1,150.00 target price on shares of Alphabet in a research report on Saturday, July 22nd. Cantor Fitzgerald reiterated a buy rating and issued a $1,100.00 target price on shares of Alphabet in a research report on Tuesday, October 24th. Finally, Zacks Investment Research lowered Alphabet from a hold rating to a sell rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $1,088.02.

Shares of Alphabet (NASDAQ GOOGL) traded up $7.39 on Tuesday, hitting $1,049.99. The stock had a trading volume of 1,370,874 shares, compared to its average volume of 1,690,000. The firm has a market cap of $723.42 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 1.76 and a beta of 0.91. 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 one year low of $743.59 and a one year high of $1,063.62.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the consensus estimate of $8.43 by $1.14. The company had revenue of $22.27 billion during the quarter, compared to analyst estimates of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same quarter last year, the firm earned $9.06 EPS. sell-side analysts forecast that Alphabet will post 32.17 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 662,279 shares during the last quarter. BlackRock Inc. lifted its position in shares of 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 purchasing an additional 567,337 shares during the last quarter. FMR LLC lifted its position in shares of Alphabet by 2.1% during the 2nd 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 last quarter. State Street Corp lifted its position in shares of Alphabet by 1.2% during the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock worth $10,128,119,000 after purchasing an additional 142,214 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Alphabet by 2.4% during the 2nd 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 last quarter. 33.87% of the stock is owned by institutional investors and hedge funds.

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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