Vetr Upgrades Alphabet (GOOGL) to Strong-Buy

Alphabet (NASDAQ:GOOGL) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday, February 5th. The firm currently has a $1,243.88 price objective on the information services provider’s stock. Vetr‘s price objective suggests a potential upside of 15.96% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Goldman Sachs Group lifted their target price on shares of Alphabet from $1,125.00 to $1,175.00 in a research report on Friday, October 27th. SunTrust Banks lowered their price target on shares of Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Argus lifted their price target on shares of Alphabet to $1,300.00 in a report on Monday, February 5th. Barclays restated a “buy” rating and issued a $1,260.00 target price on shares of Alphabet in a report on Friday, October 27th. Finally, B. Riley reiterated a “buy” rating and set a $1,200.00 price objective (up from $1,050.00) on shares of Alphabet in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $1,157.02.

Alphabet (GOOGL) traded up $18.56 during trading on Monday, reaching $1,072.70. 2,065,000 shares of the company’s stock were exchanged, compared to its average volume of 2,133,123. Alphabet has a 12 month low of $824.30 and a 12 month high of $1,198.00. The firm has a market cap of $745,540.00, a price-to-earnings ratio of 59.57, a PEG ratio of 1.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.12 by ($0.42). The company had revenue of $25.87 billion during the quarter, compared to analysts’ expectations of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. analysts predict that Alphabet will post 42.51 EPS for the current year.

Alphabet declared that its Board of Directors has approved a stock repurchase program on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge funds have recently modified their holdings of the stock. Magellan Asset Management Ltd increased its stake in shares of Alphabet by 700.9% in the fourth quarter. Magellan Asset Management Ltd now owns 2,126,562 shares of the information services provider’s stock valued at $2,225,234,000 after buying an additional 1,861,056 shares in the last quarter. Koch Industries Inc. increased its position in Alphabet by 181,219.4% in the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock worth $1,085,000 after purchasing an additional 1,085,504 shares during the period. Harbour Capital Advisors LLC increased its position in Alphabet by 65,026.4% in the second quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock worth $800,000 after purchasing an additional 742,602 shares during the period. Vanguard Group Inc. increased its position in Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after purchasing an additional 662,279 shares during the period. Finally, BlackRock Inc. increased its position in Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after purchasing an additional 567,337 shares during the period. 33.60% of the stock is owned by hedge funds and other institutional investors.

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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.

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