Todays Report: Today, Alphabet Inc. (GOOGL) Upgrade by Vetr Inc. to “Strong-Buy”

Today, Alphabet Inc. (GOOGL) Upgrade by Vetr Inc. to “Strong-Buy”

Alphabet Inc. (NASDAQ:GOOGL) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $880.83 target price on the stock. Vetr‘s price objective indicates a potential upside of 13.07% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on GOOGL. Cantor Fitzgerald reiterated a “buy” rating and issued a $940.00 target price on shares of Alphabet in a research note on Wednesday, July 27th. Bank of America Corp. restated a “buy” rating and set a $925.00 price target on shares of Alphabet in a research note on Wednesday, July 27th. Zacks Investment Research upgraded shares of Alphabet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. RBC Capital Markets restated an “outperform” rating and set a $1,000.00 price target on shares of Alphabet in a research note on Thursday, July 28th. Finally, B. Riley restated a “buy” rating and set a $950.00 price target on shares of Alphabet in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $940.44.

Alphabet (NASDAQ:GOOGL) remained flat at $779.00 during midday trading on Thursday. The company had a trading volume of 1,312,981 shares. Alphabet has a 52-week low of $672.66 and a 52-week high of $839.00. The company has a 50-day moving average price of $800.87 and a 200-day moving average price of $771.49. The company has a market cap of $536.92 billion, a PE ratio of 28.51 and a beta of 0.92.

Hedge funds have recently modified their holdings of the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares during the period. Cedar Wealth Management LLC raised its position in shares of Alphabet by 5.8% in the third quarter. Cedar Wealth Management LLC now owns 128 shares of the company’s stock worth $103,000 after buying an additional 7 shares during the period. Archford Capital Strategies LLC raised its position in shares of Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock worth $104,000 after buying an additional 34 shares during the period. Roble Belko & Company Inc raised its position in shares of Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock worth $108,000 after buying an additional 115 shares during the period. Finally, MCF Advisors LLC raised its position in shares of Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock worth $112,000 after buying an additional 3 shares during the period. Hedge funds and other institutional investors own 34.14% of the company’s stock.

About Alphabet

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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