Economy

Vetr Upgrades Alphabet (GOOGL) to "Buy"

Vetr Upgrades Alphabet (GOOGL) to

The firm owned 5,283 shares of the information services provider's stock after acquiring an additional 505 shares during the period.

Shares of Alphabet Inc. Conning Inc.'s holdings in Alphabet were worth $7,583,000 at the end of the most recent quarter.

Hedge funds and other institutional investors have recently modified their holdings of the company. Perennial Advisors LLC grew its holdings in shares of Alphabet by 8.7% in the 2nd quarter. FMR LLC raised its stake in shares of Alphabet by 2.1% in the second quarter. Anchor Capital Advisors LLC now owns 378 shares of the information services provider's stock worth $351,000 after purchasing an additional 11 shares during the last quarter.

Canada Pension Plan Investment Board decreased its stake in shares of Alphabet Inc. Indiana Trust & Investment Management CO now owns 3,022 shares of the information services provider's stock valued at $3,183,000 after purchasing an additional 84 shares during the period. Taurus Asset Management LLC now owns 25,960 shares of the information services provider's stock worth $23,591,000 after purchasing an additional 220 shares during the period. The Acropolis Investment Management Llc holds 6,001 shares with $353,000 value, up from 390 last quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider's stock worth $309,000 after buying an additional 3 shares during the period. While the stock has a nice low price tag to it, does it have any value? Moreover, Lesa Sroufe & Co has 3.39% invested in the company for 323,087 shares.

In other news, CEO Sundar Pichai sold 4,000 shares of the firm's stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $744.59, for a total transaction of $144,450.46. Following the sale, the director now owns 1,656 shares in the company, valued at $1,305,093.60. The disclosure for this sale can be found here.

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Several other brokerages have also recently issued reports on GOOGL. Stifel Nicolaus restated a "buy" rating and set a $1,150.00 target price (up previously from $1,075.00) on shares of Alphabet in a report on Tuesday, October 24th. Cowen and Company restated an "outperform" rating and issued a $1,050.00 price target on shares of Alphabet in a research note on Friday. SunTrust Banks reaffirmed a "buy" rating and issued a $1,100.00 target price on shares of Alphabet in a research report on Saturday, September 23rd. RBC Capital Markets maintained the shares of GOOGL in report on Monday, July 24 with "Buy" rating. Finally, Morgan Stanley reaffirmed a "buy" rating on shares of Alphabet in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company.

Currently, the analyst consensus on Alphabet Inc is Strong Buy and the average price target is $1194, representing a 7.4% upside. White Lighthouse Investment Management Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $611,000. 1,042,263 shares of the stock were exchanged, compared to its average volume of 1,150,233.

Alphabet Inc. has a current ratio of *tba, indicating whether the company's short-term assets (cash, cash equivalents, marketable securities, receivables and inventory) are readily obtainable to pay off its short-term liabilities. The firm has a market capitalization of $769,050.00, a PE ratio of 36.98, a P/E/G ratio of 1.45 and a beta of 0.90. Looking back further, Alphabet Inc. stock has been 14.72% over the last six months, and 5.39% since the start of the calendar year.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, October 26th. After $0.43 actual earnings per share reported by Ford Motor Company for the previous quarter, Wall Street now forecasts 2.33% EPS growth. The firm had revenue of $22.27 billion for the quarter, compared to analysts' expectations of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. Alphabet's revenue was up 22.2% compared to the same quarter past year.

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