Vetr upgraded shares of Alphabet (NASDAQ:GOOGL) from a buy rating to a strong-buy rating in a report published on Tuesday morning. The brokerage currently has $1,156.80 price target on the information services provider’s stock.
Several other brokerages have also weighed in on GOOGL. Zacks Investment Research raised Alphabet from a hold rating to a buy rating and set a $1,330.00 target price on the stock in a research report on Monday, January 29th. Deutsche Bank reaffirmed a buy rating and issued a $1,400.00 target price on shares of Alphabet in a research report on Monday, January 29th. Monness Crespi & Hardt reaffirmed a buy rating and issued a $1,250.00 target price (up from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Morgan Stanley reaffirmed an overweight rating and issued a $1,215.00 target price (up from $1,210.00) on shares of Alphabet in a research report on Friday, January 26th. Finally, B. Riley increased their target price on Alphabet from $1,200.00 to $1,375.00 and gave the stock a buy rating in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $1,172.65.
Shares of Alphabet stock opened at $1,036.04 on Tuesday. Alphabet has a fifty-two week low of $841.03 and a fifty-two week high of $1,198.00. The firm has a market cap of $712,194.31, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.
Alphabet declared that its board has approved a share buyback program on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Large investors have recently bought and sold shares of the stock. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in Alphabet in the fourth quarter worth about $108,000. Stuart Chaussee & Associates Inc. acquired a new position in Alphabet in the fourth quarter worth about $123,000. Financial Gravity Companies Inc. acquired a new position in Alphabet in the fourth quarter worth about $138,000. Lee Financial Co boosted its stake in Alphabet by 500.0% in the fourth quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock valued at $126,000 after acquiring an additional 100 shares during the period. Finally, Stelac Advisory Services LLC acquired a new position in Alphabet in the third quarter valued at approximately $126,000. Institutional investors and hedge funds own 34.38% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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