Vetr lowered shares of Alphabet Inc. (NASDAQ:GOOG) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning. Vetr currently has $1,047.63 price objective on the information services provider’s stock.
A number of other research analysts have also weighed in on the company. Nomura reissued a buy rating and issued a $985.00 price objective on shares of Alphabet in a report on Monday, May 1st. Barclays PLC restated an overweight rating on shares of Alphabet in a research note on Monday, April 17th. Wedbush restated an underperform rating and issued a $725.00 target price (up previously from $700.00) on shares of Alphabet in a research note on Saturday, April 29th. Cantor Fitzgerald restated a buy rating on shares of Alphabet in a research note on Friday, April 28th. Finally, Morgan Stanley restated a buy rating on shares of Alphabet in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has a consensus rating of Buy and a consensus price target of $994.64.
Alphabet (NASDAQ:GOOG) opened at 953.42 on Wednesday. The firm has a 50-day moving average price of $952.24 and a 200 day moving average price of $860.20. Alphabet has a 12 month low of $719.05 and a 12 month high of $988.25. The stock has a market capitalization of $659.53 billion, a PE ratio of 32.22 and a beta of 0.95.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating analysts’ consensus estimates of $7.38 by $0.35. The business had revenue of $24.75 billion for the quarter, compared to analyst estimates of $24.18 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company earned $7.50 earnings per share. Equities analysts anticipate that Alphabet will post $34.00 earnings per share for the current year.
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In other news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $968.95, for a total value of $177,317.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director L John Doerr sold 13,355 shares of Alphabet stock in a transaction on Monday, May 15th. The shares were sold at an average price of $935.93, for a total value of $12,499,345.15. Following the completion of the sale, the director now directly owns 3,468 shares of the company’s stock, valued at $3,245,805.24. The disclosure for this sale can be found here. Insiders sold 46,268 shares of company stock valued at $42,981,057 over the last ninety days. Insiders own 13.92% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox bought a new position in Alphabet during the fourth quarter worth about $2,387,502,000. Norges Bank bought a new position in Alphabet during the fourth quarter worth about $2,128,163,000. Asset Management One Co. Ltd. raised its position in Alphabet by 696.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 562,109 shares of the information services provider’s stock worth $434,371,000 after buying an additional 491,509 shares during the period. Putnam Investments LLC raised its position in Alphabet by 50.3% in the fourth quarter. Putnam Investments LLC now owns 1,094,771 shares of the information services provider’s stock worth $844,967,000 after buying an additional 366,456 shares during the period. Finally, Sanders Capital LLC raised its position in Alphabet by 37.1% in the first quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock worth $1,019,026,000 after buying an additional 324,596 shares during the period. Hedge funds and other institutional investors own 34.59% of the company’s stock.
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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