Vetr Lowers Alphabet (GOOG) to Hold

Vetr lowered shares of Alphabet (NASDAQ:GOOG) from a buy rating to a hold rating in a report issued on Tuesday morning. They currently have $1,130.90 target price on the information services provider’s stock.

Several other research analysts have also issued reports on the stock. UBS Group reiterated a buy rating on shares of Alphabet in a research report on Thursday, January 11th. Morningstar reiterated a neutral rating on shares of Alphabet in a research report on Friday, January 19th. Morgan Stanley reiterated a buy rating on shares of Alphabet in a research report on Friday, January 12th. Piper Jaffray Companies upped their target price on shares of Alphabet from $1,150.00 to $1,300.00 and gave the stock an overweight rating in a research report on Thursday, January 11th. Finally, SunTrust Banks upped their target price on shares of Alphabet to $1,250.00 and gave the stock a buy rating in a research report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $1,066.61.

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Alphabet (GOOG) opened at $1,160.04 on Tuesday. The company has a market cap of $807,350.00, a price-to-earnings ratio of 36.14 and a beta of 1.05. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. Alphabet has a 1 year low of $803.37 and a 1 year high of $1,186.89.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter last year, the firm posted $9.36 earnings per share. The firm’s revenue was up 24.0% on a year-over-year basis.

Alphabet declared that its board has initiated a share buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $1,089.48, for a total value of $4,357,920.00. Following the completion of the transaction, the chief executive officer now directly owns 953 shares of the company’s stock, valued at $1,038,274.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP James Grier Campbell sold 194 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $1,075.14, for a total transaction of $208,577.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,019 shares of company stock valued at $46,329,334. 13.92% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its holdings in shares of Alphabet by 759.0% during the second quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock valued at $2,911,734,000 after buying an additional 2,831,099 shares during the last quarter. Koch Industries Inc. grew its holdings in shares of Alphabet by 214,636.6% during the second quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock valued at $1,160,000 after buying an additional 1,161,184 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Alphabet by 4.8% during the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after buying an additional 826,480 shares during the last quarter. Capital World Investors grew its holdings in shares of Alphabet by 13.9% during the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after buying an additional 776,853 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Alphabet by 3.0% during the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after buying an additional 589,654 shares during the last quarter. 34.51% of the stock is owned by institutional investors.

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About Alphabet

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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