Alphabet (GOOGL) Cut to Hold at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Alphabet (NASDAQ:GOOGL) from a buy rating to a hold rating in a research note issued to investors on Friday, Marketbeat.com reports. Stifel Nicolaus currently has $1,150.00 price objective on the information services provider’s stock.

Several other equities research analysts have also recently commented on GOOGL. Vetr cut Alphabet from a buy rating to a hold rating and set a $1,007.29 target price for the company. in a research note on Friday, October 6th. Royal Bank of Canada reaffirmed a buy rating and set a $1,050.00 target price on shares of Alphabet in a research note on Sunday, October 8th. Jefferies Group reaffirmed a buy rating and set a $1,200.00 target price on shares of Alphabet in a research note on Tuesday, October 10th. They noted that the move was a valuation call. Credit Suisse Group reiterated an outperform rating on shares of Alphabet in a report on Wednesday, October 11th. Finally, Pivotal Research reiterated a hold rating and issued a $970.00 price target on shares of Alphabet in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $1,150.22.

Shares of Alphabet (NASDAQ GOOGL) opened at $1,119.20 on Friday. Alphabet has a one year low of $814.29 and a one year high of $1,198.00. The company has a market capitalization of $777,621.25, a P/E ratio of 62.32, a P/E/G ratio of 1.45 and a beta of 0.94. 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 (NASDAQ:GOOGL) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion. analysts forecast that Alphabet will post 41.91 EPS for the current fiscal year.

Alphabet declared that its board has authorized a share buyback plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of GOOGL. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $123,000. Parkside Financial Bank & Trust increased its position in shares of Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares during the last quarter. Stelac Advisory Services LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $126,000. Odey Holdings AG increased its position in shares of Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after acquiring an additional 20 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $137,000. Institutional investors own 33.61% of the company’s stock.

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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.

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