Vetr upgraded shares of Alphabet (NASDAQ:GOOGL) from a buy rating to a strong-buy rating in a report published on Friday morning. They currently have $1,192.20 target price on the information services provider’s stock.
A number of other analysts also recently commented on the company. Zacks Investment Research upgraded Alphabet from a hold rating to a buy rating and set a $1,199.00 target price on the stock in a research report on Tuesday, December 26th. SunTrust Banks decreased their target price on Alphabet from $1,250.00 to $1,180.00 in a research report on Monday, January 15th. Monness Crespi & Hardt reiterated a buy rating and set a $1,250.00 target price (up from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Cowen boosted their target price on Alphabet from $1,150.00 to $1,230.00 and gave the stock an outperform rating in a research report on Thursday, January 4th. Finally, B. Riley upped their price objective on Alphabet from $1,200.00 to $1,375.00 and gave the company a buy rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $1,166.73.
Shares of Alphabet (NASDAQ:GOOGL) opened at $1,026.55 on Friday. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. Alphabet has a 12 month low of $824.30 and a 12 month high of $1,198.00. The firm has a market capitalization of $713,229.56, a P/E ratio of 57.16, a P/E/G ratio of 1.10 and a beta of 0.99.
Alphabet announced that its Board of Directors has approved a stock buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of large investors have recently made changes to their positions in GOOGL. ADAMCAPITAL Gestao de Recursos Ltda. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $134,031,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Alphabet by 6.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 25,394 shares of the information services provider’s stock valued at $26,750,000 after buying an additional 1,549 shares in the last quarter. Ackerman Capital Advisors LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $526,000. OTA Financial Group L.P. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $16,580,000. Finally, Wagner Wealth Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $435,000. Institutional investors own 34.38% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was originally published by Ticker Report and is owned by of Ticker Report. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3302024/alphabet-googl-raised-to-strong-buy-at-vetr.html.
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.
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.