Vetr Inc. Upgrades Alphabet Inc (GOOGL) to “Buy”
Alphabet Inc (NASDAQ:GOOGL) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $909.92 target price on the stock. Vetr‘s target price would indicate a potential upside of 4.89% from the company’s current price.
Several other brokerages also recently commented on GOOGL. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $1,000.00 target price on shares of Alphabet in a report on Sunday. Pivotal Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $970.00 to $950.00 in a report on Monday. Wells Fargo & Co reaffirmed an “outperform” rating and set a $1,000.00 target price (up previously from $975.00) on shares of Alphabet in a report on Saturday, March 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,000.00 target price on shares of Alphabet in a report on Saturday, March 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a report on Saturday, March 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $963.60.
Shares of Alphabet (NASDAQ:GOOGL) opened at 867.91 on Tuesday. Alphabet has a 12-month low of $672.66 and a 12-month high of $874.42. The firm has a market cap of $600.09 billion, a price-to-earnings ratio of 31.13 and a beta of 0.98. The stock’s 50 day moving average is $844.45 and its 200 day moving average is $814.97.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, January 26th. The company reported $9.36 EPS for the quarter, missing the consensus estimate of $9.64 by $0.28. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. During the same quarter in the prior year, the company posted $8.67 EPS. Equities analysts expect that Alphabet will post $33.41 earnings per share for the current year.
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Several large investors have recently bought and sold shares of GOOGL. Norges Bank purchased a new stake in Alphabet during the fourth quarter valued at $2,411,505,000. Glenview Capital Management LLC purchased a new stake in Alphabet during the fourth quarter valued at $605,119,000. Asset Management One Co. Ltd. boosted its stake in Alphabet by 1,116.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 554,276 shares of the company’s stock valued at $439,667,000 after buying an additional 508,715 shares during the period. Russell Investments Group Ltd. purchased a new stake in Alphabet during the fourth quarter valued at $348,302,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Alphabet during the fourth quarter valued at $341,958,000. Institutional investors own 34.98% of the company’s stock.
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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