Today, Vetr Inc. Downgrade Alphabet Inc. (GOOG) to Buy

Today, Vetr Inc. Downgrade Alphabet Inc. (GOOG) to Buy
Alphabet Inc. (NASDAQ:GOOG) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They presently have a $862.31 target price on the stock. Vetr‘s target price suggests a potential upside of 13.21% from the stock’s current price.

Several other research firms have also issued reports on GOOG. Canaccord Genuity reiterated a “buy” rating and set a $900.00 price target on shares of Alphabet in a research report on Monday, October 24th. RBC Capital Markets reiterated an “outperform” rating and set a $1,025.00 price target on shares of Alphabet in a research report on Wednesday, October 26th. Nomura reiterated an “outperform” rating and set a $925.00 price target on shares of Alphabet in a research report on Monday, October 24th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $970.00 price target on shares of Alphabet in a research report on Thursday, October 27th. Finally, Susquehanna reiterated a “positive” rating and set a $1,000.00 price target on shares of Alphabet in a research report on Friday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and forty-four have issued a buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus target price of $940.42.

Shares of Alphabet (NASDAQ:GOOG) traded up 0.09% during mid-day trading on Monday, hitting $761.68. 587,421 shares of the company’s stock traded hands. The company has a market cap of $524.98 billion, a PE ratio of 27.88 and a beta of 1.01. The firm has a 50-day moving average of $778.78 and a 200 day moving average of $751.79. Alphabet has a 52 week low of $663.06 and a 52 week high of $816.68.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 27th. The company reported $9.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.62 by $0.44. Alphabet had a net margin of 22.29% and a return on equity of 15.08%. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $13.17 billion. During the same period last year, the firm earned $7.35 earnings per share. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts predict that Alphabet will post $34.42 EPS for the current year.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $782.62, for a total transaction of $3,130,480.00. Following the completion of the sale, the chief executive officer now owns 3,378 shares of the company’s stock, valued at approximately $2,643,690.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 43 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $773.49, for a total transaction of $33,260.07. Following the sale, the director now directly owns 1,656 shares of the company’s stock, valued at approximately $1,280,899.44. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Alphabet during the third quarter valued at $102,000. Mesirow Financial Investment Management Equity Management bought a new position in shares of Alphabet during the second quarter valued at approximately $121,000. Quantbot Technologies LP raised its position in shares of Alphabet by 64.2% in the third quarter. Quantbot Technologies LP now owns 156 shares of the company’s stock valued at $121,000 after buying an additional 61 shares during the period. Whitnell & Co. raised its position in shares of Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock valued at $129,000 after buying an additional 32 shares during the period. Finally, Trust Department MB Financial Bank N A raised its position in shares of Alphabet by 3.0% in the third quarter. Trust Department MB Financial Bank N A now owns 170 shares of the company’s stock valued at $132,000 after buying an additional 5 shares during the period. 34.46% of the stock is owned by institutional investors and hedge funds.

Alphabet Company Profile

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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