Alphabet (GOOGL) Lowered to “Buy” at Vetr

Vetr cut shares of Alphabet (NASDAQ:GOOGL) from a strong-buy rating to a buy rating in a report published on Tuesday. Vetr currently has $1,211.78 price target on the information services provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. William Blair restated an outperform rating on shares of Alphabet in a report on Thursday, February 1st. Argus raised their target price on shares of Alphabet to $1,300.00 in a report on Monday, February 5th. Aegis restated a buy rating and issued a $1,350.00 target price on shares of Alphabet in a report on Sunday, February 4th. Oppenheimer raised their target price on shares of Alphabet from $1,180.00 to $1,340.00 and gave the stock a hold rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada restated a buy rating and issued a $1,285.00 target price on shares of Alphabet in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet has a consensus rating of Buy and an average price target of $1,157.02.

Shares of Alphabet (GOOGL) opened at $1,046.27 on Tuesday. The firm has a market cap of $700,157.94, a P/E ratio of 58.26, a P/E/G ratio of 1.04 and a beta of 0.94. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. Alphabet has a 1 year low of $824.30 and a 1 year high of $1,198.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $10.12 by ($0.42). The firm had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. research analysts forecast that Alphabet will post 42.51 EPS for the current fiscal year.

Alphabet announced that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in GOOGL. CENTRAL TRUST Co increased its holdings in Alphabet by 16.0% in the 2nd quarter. CENTRAL TRUST Co now owns 9,071 shares of the information services provider’s stock valued at $8,433,000 after acquiring an additional 1,252 shares during the last quarter. Winslow Evans & Crocker Inc. increased its holdings in Alphabet by 13.9% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 3,850 shares of the information services provider’s stock valued at $3,555,000 after acquiring an additional 470 shares during the last quarter. Legacy Private Trust Co. increased its holdings in Alphabet by 31.2% in the 2nd quarter. Legacy Private Trust Co. now owns 3,821 shares of the information services provider’s stock valued at $3,552,000 after acquiring an additional 909 shares during the last quarter. Legacy Capital Partners Inc. increased its holdings in Alphabet by 0.8% in the 2nd quarter. Legacy Capital Partners Inc. now owns 600 shares of the information services provider’s stock valued at $558,000 after acquiring an additional 5 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in Alphabet in the 2nd quarter valued at $668,000. Hedge funds and other institutional investors own 33.61% 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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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