Alphabet (GOOGL) Cut to Hold at ValuEngine

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Alphabet (NASDAQ:GOOGL) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, ValuEngine reports.

Other equities research analysts have also recently issued reports about the stock. Nomura dropped their target price on shares of Alphabet from $1,310.00 to $1,300.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price target for the company. in a research note on Tuesday. BMO Capital Markets increased their price target on shares of Alphabet from $1,100.00 to $1,200.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. They noted that the move was a valuation call. JMP Securities reiterated an “outperform” rating and issued a $1,375.00 price target (up from $1,300.00) on shares of Alphabet in a research note on Tuesday. Finally, Pivotal Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and increased their price target for the stock from $1,010.00 to $1,240.00 in a research note on Monday, January 7th. Five equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $1,325.55.

Shares of NASDAQ:GOOGL traded down $5.15 on Tuesday, hitting $1,168.17. The company had a trading volume of 56,277 shares, compared to its average volume of 1,503,732. Alphabet has a 1 year low of $977.66 and a 1 year high of $1,296.97. The company has a current ratio of 3.96, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. The stock has a market cap of $833.50 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 1.41 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $10.56 by $1.34. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The firm had revenue of $29.48 billion during the quarter, compared to analysts’ expectations of $29.99 billion. During the same period last year, the company posted $13.33 EPS. Equities analysts forecast that Alphabet will post 47.59 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in Alphabet by 3.8% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 18,641 shares of the information services provider’s stock valued at $22,501,000 after acquiring an additional 680 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Alphabet by 5.4% during the 3rd quarter. Global Retirement Partners LLC now owns 2,340 shares of the information services provider’s stock valued at $2,825,000 after buying an additional 119 shares in the last quarter. Consolidated Investment Group LLC lifted its stake in shares of Alphabet by 34.1% during the 3rd quarter. Consolidated Investment Group LLC now owns 5,603 shares of the information services provider’s stock valued at $6,763,000 after buying an additional 1,424 shares in the last quarter. Eidelman Virant Capital lifted its stake in shares of Alphabet by 41.1% during the 3rd quarter. Eidelman Virant Capital now owns 429 shares of the information services provider’s stock valued at $517,000 after buying an additional 125 shares in the last quarter. Finally, Clearwater Capital Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 34.02% of the company’s stock.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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