Trading Report: Today, Vetr Inc. Downgrade Alphabet Inc. (GOOGL) to Buy

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

Alphabet Inc. (NASDAQ:GOOGL) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They currently have a $890.66 target price on the stock. Vetr‘s target price would indicate a potential upside of 14.15% from the company’s previous close.

A number of other brokerages also recently commented on GOOGL. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $950.00 price objective on shares of Alphabet in a research report on Friday, September 9th. B. Riley reissued a “buy” rating and issued a $990.00 price objective on shares of Alphabet in a research report on Friday, October 28th. Wedbush downgraded shares of Alphabet from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $7.20 to $800.00 in a research report on Tuesday, September 27th. Susquehanna reissued a “positive” rating and issued a $930.00 price objective on shares of Alphabet in a research report on Monday, July 18th. Finally, Jefferies Group reissued a “buy” rating and issued a $925.00 price objective on shares of Alphabet in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $940.44.

Shares of Alphabet (NASDAQ:GOOGL) traded up 0.16% on Monday, hitting $780.23. 613,549 shares of the stock were exchanged. The firm has a market capitalization of $537.76 billion, a PE ratio of 28.56 and a beta of 0.92. Alphabet has a one year low of $672.66 and a one year high of $839.00. The company has a 50-day moving average price of $800.21 and a 200-day moving average price of $771.86.

A number of institutional investors have recently bought and sold shares of the stock. Nikko Asset Management Americas Inc. raised its position in shares of Alphabet by 11.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,000 shares of the company’s stock worth $1,537,000 after buying an additional 200 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of Alphabet during the first quarter worth $218,533,000. Bessemer Group Inc. acquired a new position in shares of Alphabet during the first quarter worth $8,996,000. Monetary Management Group Inc. raised its position in shares of Alphabet by 1.3% in the first quarter. Monetary Management Group Inc. now owns 4,036 shares of the company’s stock worth $3,079,000 after buying an additional 50 shares in the last quarter. Finally, Menta Capital LLC acquired a new position in shares of Alphabet during the first quarter worth $1,785,000. Institutional investors own 34.14% of the company’s stock.

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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