Vetr Lowers Alphabet (GOOG) to Sell

Vetr lowered shares of Alphabet (NASDAQ:GOOG) from a hold rating to a sell rating in a report published on Wednesday morning. They currently have $1,019.04 price target on the information services provider’s stock.

Several other equities analysts have also commented on GOOG. UBS Group reiterated an overweight rating on shares of Alphabet in a research note on Thursday, August 24th. BidaskClub upgraded Alphabet from a hold rating to a buy rating in a research note on Friday, August 25th. Robert W. Baird reiterated an outperform rating and issued a $1,100.00 target price on shares of Alphabet in a research note on Saturday, August 26th. Monness Crespi & Hardt reiterated a buy rating on shares of Alphabet in a research note on Saturday, August 26th. Finally, Credit Suisse Group reiterated an outperform rating on shares of Alphabet in a research note on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirty-eight have issued a buy rating to the company. Alphabet currently has an average rating of Buy and a consensus price target of $1,046.24.

Alphabet (GOOG) traded down $3.51 during midday trading on Wednesday, hitting $1,060.12. The stock had a trading volume of 734,566 shares, compared to its average volume of 1,555,227. Alphabet has a 12 month low of $770.41 and a 12 month high of $1,078.49. The firm has a market capitalization of $739,011.19, a PE ratio of 35.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. During the same period in the previous year, the firm posted $9.06 earnings per share. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year.

In related news, VP James Grier Campbell sold 183 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $959.26, for a total value of $175,544.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 38 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $959.26, for a total value of $36,451.88. Following the completion of the transaction, the director now directly owns 1,797 shares of the company’s stock, valued at $1,723,790.22. The disclosure for this sale can be found here. Insiders have sold 36,900 shares of company stock worth $37,430,220 in the last 90 days. 13.92% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of GOOG. Perennial Advisors LLC lifted its holdings in shares of Alphabet by 8.7% in the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after purchasing an additional 260 shares in the last quarter. One Capital Management LLC lifted its holdings in shares of Alphabet by 5.0% in the second quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock valued at $2,920,000 after purchasing an additional 154 shares in the last quarter. Doyle Wealth Management raised its holdings in shares of Alphabet by 6.7% during the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after acquiring an additional 200 shares in the last quarter. Northeast Investment Management raised its holdings in shares of Alphabet by 4.4% during the second quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock worth $11,521,000 after acquiring an additional 537 shares in the last quarter. Finally, Taurus Asset Management LLC raised its holdings in shares of Alphabet by 0.9% during the second quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock worth $23,591,000 after acquiring an additional 220 shares in the last quarter. 34.64% of the stock is owned by institutional investors and hedge funds.

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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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