Alphabet Inc (NASDAQ:GOOG) was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating in a report issued on Thursday, May 4th. They currently have a $902.40 target price on the information services provider’s stock. Vetr‘s price objective suggests a potential downside of 2.99% from the company’s current price.
GOOG has been the subject of several other reports. Cowen and Company raised their price target on Alphabet from $1,050.00 to $1,075.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Credit Suisse Group AG raised their price target on Alphabet from $1,100.00 to $1,150.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Piper Jaffray Companies reduced their price target on Alphabet from $1,050.00 to $930.00 and set an “overweight” rating for the company in a report on Friday, April 28th. BMO Capital Markets reissued a “market perform” rating and issued a $970.00 price target on shares of Alphabet in a report on Saturday, April 29th. Finally, Wedbush reissued an “underperform” rating and issued a $725.00 price target (up from $700.00) on shares of Alphabet in a report on Saturday, April 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $971.77.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.68% during midday trading on Thursday, hitting $936.60. The stock had a trading volume of 861,067 shares. The firm has a 50 day moving average price of $877.17 and a 200 day moving average price of $820.39. The stock has a market cap of $647.89 billion, a PE ratio of 31.65 and a beta of 0.94. Alphabet has a one year low of $663.28 and a one year high of $943.11. Alphabet also saw some unusual options trading on Wednesday. Investors acquired 1,932 put options on the stock. This represents an increase of 105% compared to the average volume of 942 put options.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating the consensus estimate of $7.38 by $0.35. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The company had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. During the same period last year, the business posted $7.50 EPS. The company’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts forecast that Alphabet will post $33.88 earnings per share for the current fiscal year.
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In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $830.47, for a total transaction of $3,321,880.00. Following the completion of the sale, the chief executive officer now owns 2,270 shares in the company, valued at approximately $1,885,166.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director L John Doerr sold 13,355 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $935.93, for a total value of $12,499,345.15. Following the sale, the director now owns 3,468 shares of the company’s stock, valued at approximately $3,245,805.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,133 shares of company stock valued at $44,422,427. 13.92% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Alphabet by 2,553.3% in the first quarter. BlackRock Inc. now owns 17,231,526 shares of the information services provider’s stock worth $14,294,584,000 after buying an additional 16,582,087 shares during the last quarter. Dodge & Cox acquired a new stake in Alphabet during the fourth quarter worth about $2,387,502,000. Norges Bank acquired a new stake in Alphabet during the fourth quarter worth about $2,128,163,000. Russell Investments Group Ltd. acquired a new stake in Alphabet during the fourth quarter worth about $612,676,000. Finally, Vanguard Group Inc. raised its stake in Alphabet by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,850,384 shares of the information services provider’s stock worth $16,467,085,000 after buying an additional 754,370 shares during the last quarter. Institutional investors own 34.74% 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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