Alphabet (GOOGL) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of Alphabet (NASDAQ:GOOGL) from a buy rating to a hold rating in a research report sent to investors on Thursday.

A number of other equities analysts also recently commented on GOOGL. Zacks Investment Research downgraded shares of Alphabet from a strong-buy rating to a hold rating in a research note on Thursday, January 3rd. Pivotal Research raised shares of Alphabet from a hold rating to a buy rating and raised their target price for the company from $1,010.00 to $1,240.00 in a research note on Monday, January 7th. Guggenheim assumed coverage on shares of Alphabet in a research note on Thursday, December 6th. They set a buy rating and a $1,330.00 price target on the stock. MKM Partners dropped their price target on shares of Alphabet from $1,465.00 to $1,365.00 and set a buy rating on the stock in a research note on Monday, November 26th. Finally, JMP Securities reaffirmed a market outperform rating and set a $1,375.00 price target (down previously from $1,390.00) on shares of Alphabet in a research note on Friday, November 2nd. Three analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. Alphabet has a consensus rating of Buy and an average target price of $1,344.59.

Shares of GOOGL opened at $1,064.47 on Thursday. The firm has a market capitalization of $752.70 billion, a price-to-earnings ratio of 33.21, a P/E/G ratio of 1.26 and a beta of 1.00. Alphabet has a fifty-two week low of $977.66 and a fifty-two week high of $1,291.44. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $10.54 by $2.52. The company had revenue of $27.16 billion for the quarter, compared to analyst estimates of $27.32 billion. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. Sell-side analysts forecast that Alphabet will post 45.32 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. LGT Capital Partners LTD. raised its holdings in shares of Alphabet by 3.3% in the second quarter. LGT Capital Partners LTD. now owns 45,997 shares of the information services provider’s stock valued at $51,939,000 after buying an additional 1,452 shares during the last quarter. Atria Investments LLC grew its position in shares of Alphabet by 10.6% in the second quarter. Atria Investments LLC now owns 4,952 shares of the information services provider’s stock valued at $5,592,000 after purchasing an additional 474 shares during the last quarter. TRUE Private Wealth Advisors grew its position in shares of Alphabet by 55.8% in the second quarter. TRUE Private Wealth Advisors now owns 2,488 shares of the information services provider’s stock valued at $2,809,000 after purchasing an additional 891 shares during the last quarter. Rathbone Brothers plc grew its position in shares of Alphabet by 29.5% in the second quarter. Rathbone Brothers plc now owns 54,364 shares of the information services provider’s stock valued at $61,387,000 after purchasing an additional 12,377 shares during the last quarter. Finally, West Coast Financial LLC boosted its holdings in shares of Alphabet by 0.8% in the 2nd quarter. West Coast Financial LLC now owns 5,991 shares of the information services provider’s stock valued at $6,765,000 after purchasing an additional 50 shares during the last quarter. 33.32% of the stock is owned by institutional investors and hedge funds.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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