GOOGL Stock: Alphabet Inc Downgraded to “Hold” at Vetr Inc.

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Vetr downgraded shares of Alphabet Inc (NASDAQ:GOOGL) from a buy rating to a hold rating in a research note released on Monday morning. Vetr currently has $893.60 price objective on the information services provider’s stock.

Several other brokerages also recently commented on GOOGL. BMO Capital Markets downgraded Alphabet from an outperform rating to a market perform rating and reduced their target price for the stock from $1,005.00 to $880.00 in a report on Tuesday, April 4th. William Blair reissued an outperform rating on shares of Alphabet in a report on Friday, March 3rd. Cantor Fitzgerald reissued an overweight rating and issued a $1,040.00 target price on shares of Alphabet in a report on Monday, March 13th. Loop Capital started coverage on Alphabet in a report on Friday, March 31st. They issued a hold rating and a $800.00 target price on the stock. Finally, Goldman Sachs Group Inc reissued a conviction-buy rating and issued a $970.00 target price on shares of Alphabet in a report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Alphabet currently has a consensus rating of Buy and a consensus price target of $971.32.

Shares of Alphabet (NASDAQ:GOOGL) traded up 4.71% during mid-day trading on Monday, hitting $933.41. The company had a trading volume of 1,876,056 shares. The firm has a market cap of $645.38 billion, a PE ratio of 33.48 and a beta of 0.98. The firm’s 50 day moving average is $856.32 and its 200-day moving average is $825.75. Alphabet has a 12-month low of $672.66 and a 12-month high of $935.90. Alphabet also saw some unusual options trading on Thursday. Stock traders acquired 13,704 put options on the stock. This represents an increase of 159% compared to the typical daily volume of 5,297 put options.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating the consensus estimate of $7.24 by $0.49. The company had revenue of $20.12 billion for the quarter, compared to analyst estimates of $19.65 billion. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. During the same period in the prior year, the company posted $7.50 EPS. On average, equities analysts expect that Alphabet will post $33.33 EPS for the current year.

Large investors have recently modified their holdings of the stock. Crossvault Capital Management LLC increased its stake in shares of Alphabet by 20.5% in the third quarter. Crossvault Capital Management LLC now owns 2,677 shares of the information services provider’s stock valued at $2,152,000 after buying an additional 455 shares during the period. Signature Financial Management Inc. increased its stake in shares of Alphabet by 6.8% in the third quarter. Signature Financial Management Inc. now owns 905 shares of the information services provider’s stock valued at $728,000 after buying an additional 58 shares during the period. Greenleaf Trust increased its stake in shares of Alphabet by 39.6% in the third quarter. Greenleaf Trust now owns 2,025 shares of the information services provider’s stock valued at $1,628,000 after buying an additional 574 shares during the period. Quotient Investors LLC increased its stake in shares of Alphabet by 32.7% in the third quarter. Quotient Investors LLC now owns 3,032 shares of the information services provider’s stock valued at $2,438,000 after buying an additional 748 shares during the period. Finally, Stralem & Co. Inc. increased its stake in shares of Alphabet by 10.4% in the third quarter. Stralem & Co. Inc. now owns 33,355 shares of the information services provider’s stock valued at $26,819,000 after buying an additional 3,135 shares during the period. Institutional investors and hedge funds own 34.98% of the company’s stock.

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