The Alphabet Inc. (GOOGL) Upgrade by Vetr Inc. to “Buy”

The Alphabet Inc. (GOOGL) Upgrade by Vetr Inc. to “Buy”

Vetr upgraded shares of Alphabet Inc. (NASDAQ:GOOGL) from a hold rating to a buy rating in a report released on Saturday.

Other equities research analysts have also recently issued reports about the company. Bank of America Corp. reiterated a buy rating and issued a $925.00 target price on shares of Alphabet in a research note on Sunday, July 17th. Credit Suisse Group AG restated a buy rating and set a $920.00 price objective on shares of Alphabet in a research note on Sunday, July 17th. Robert W. Baird restated a buy rating on shares of Alphabet in a research note on Sunday, July 17th. Deutsche Bank AG restated a buy rating on shares of Alphabet in a research note on Sunday, July 10th. Finally, B. Riley restated a buy rating and set a $950.00 price objective on shares of Alphabet in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and forty-six have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $934.08.

Shares of Alphabet (NASDAQ:GOOGL) traded up 0.27% during trading on Friday, reaching $819.56. 4,354,884 shares of the company’s stock traded hands. The company has a 50 day moving average of $808.43 and a 200-day moving average of $765.78. The company has a market capitalization of $563.26 billion, a price-to-earnings ratio of 31.75 and a beta of 1.00. Alphabet has a 1-year low of $672.66 and a 1-year high of $839.00.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a return on equity of 15.39% and a net margin of 22.29%. Equities analysts predict that Alphabet will post $34.10 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Alphabet by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,198,649 shares of the company’s stock valued at $12,803,295,000 after buying an additional 375,941 shares during the last quarter. State Street Corp raised its position in Alphabet by 0.4% in the first quarter. State Street Corp now owns 11,181,006 shares of the company’s stock valued at $8,529,984,000 after buying an additional 39,282 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Alphabet by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,747,794 shares of the company’s stock valued at $5,450,806,000 after buying an additional 129,555 shares during the last quarter. Bank of New York Mellon Corp raised its position in Alphabet by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 4,096,211 shares of the company’s stock valued at $2,881,806,000 after buying an additional 14,001 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in Alphabet by 2.5% in the second quarter. BlackRock Fund Advisors now owns 3,829,095 shares of the company’s stock valued at $2,693,883,000 after buying an additional 93,453 shares during the last quarter. 34.15% of the stock is currently owned by hedge funds and other institutional investors.

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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