Vetr Inc. Downgrades Alphabet Inc. (GOOG) to Hold

Alphabet Inc. (NASDAQ:GOOG) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They currently have a $1,067.64 price objective on the information services provider’s stock. Vetr‘s price objective would suggest a potential upside of 3.20% from the company’s previous close.

GOOG has been the subject of several other research reports. Citigroup Inc. reaffirmed a “buy” rating and set a $1,180.00 price objective on shares of Alphabet in a research report on Thursday, July 27th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 20th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,047.52.

Shares of Alphabet (NASDAQ GOOG) opened at $1,034.49 on Monday. The firm has a market cap of $707,571.50, a P/E ratio of 34.09 and a beta of 0.95. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet has a 52-week low of $737.02 and a 52-week high of $1,048.39.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.06 EPS.

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In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $924.36, for a total value of $3,697,440.00. Following the transaction, the chief executive officer now owns 1,324 shares of the company’s stock, valued at $1,223,852.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director L John Doerr sold 12,236 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the completion of the transaction, the director now directly owns 3,485 shares in the company, valued at approximately $3,560,171.45. The disclosure for this sale can be found here. Insiders sold 38,394 shares of company stock worth $37,937,930 over the last three months. Corporate insiders own 13.92% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Burt Wealth Advisors grew its position in shares of Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after purchasing an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its position in shares of Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after purchasing an additional 5 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its position in shares of Alphabet by 39.6% during the second quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after purchasing an additional 40 shares in the last quarter. Farmers National Bank grew its position in shares of Alphabet by 15.0% during the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after purchasing an additional 21 shares in the last quarter. Finally, Almanack Investment Partners LLC. grew its position in shares of Alphabet by 4.5% during the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 34.43% of the company’s stock.

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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