Google's stock is slipping after a rare downgrade

  • Google's stock is slipping after a rare downgrade

Google's stock is slipping after a rare downgrade

Several other research firms have also commented on GOOG. Both the S&P 500 information technology sector and the tech-heavy Nasdaq Composite were off about 1%, double the declines for the broader market. Deutsche Bank maintained the shares of GOOGL in report on Tuesday, August 11 with "Buy" rating. Cantor Fitzgerald reiterated an overweight rating and set a $1,040.00 price objective on shares of Alphabet in a report on Monday, March 13th. Additionally, he said Alphabet's stock is "expensive" relative to historical valuations, with the stock closing Wednesday just 3.2% below his $1,000 price target.

Among 41 analysts covering Google (NASDAQ:GOOGL), 37 have Buy rating, 0 Sell and 4 Hold.

On July 29 SunTrust Robinson Humphrey made no change to the stock rating of "Outperform" and raised the price expectation to $940.00 from $850.00.

Among technology stocks hit, shares of Google's parent Alphabet fell 0.8 percent Thursday after broker Canaccord Genuity downgraded its rating of the stock to "hold" from "buy". The stock of Alphabet Inc (NASDAQ:GOOGL) has "Outperform" rating given on Tuesday, January 12 by Credit Suisse. Atlantic Securities upgraded Alphabet Inc (NASDAQ:GOOGL) rating on Wednesday, August 19. The stock has a market cap of $651.84 billion, a price-to-earnings ratio of 31.84 and a beta of 0.94.

Alphabet Inc. has a one year low of $663.28 and a one year high of $988.25. The stock's 50 day moving average is $965.53 and its 200 day moving average is $867.02. (NASDAQ:GOOG) by 8.2% during the first quarter, according to its most recent disclosure with the SEC. The information services provider reported $7.73 earnings per share for the quarter, topping the Zacks' consensus estimate of $7.38 by $0.35. Alphabet Inc (NASDAQ:GOOGL) has risen 33.46% since June 15, 2016 and is uptrending. The firm had revenue of $20.12 billion for the quarter, compared to analysts' expectations of $19.65 billion. During the same quarter in the prior year, the business earned $7.50 earnings per share.

Several equities analysts have recently issued reports on GOOG shares. After posting $7.73 EPS for the previous quarter, Alphabet Inc's analysts now forecast 8.41 % EPS growth. Empirical Finance LLC bought a new position in shares of Alphabet during the fourth quarter valued at about $115,000. NY increased its stake in Alphabet by 7.9% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 136 shares of the information services provider's stock worth $112,000 after buying an additional 1 shares during the last quarter. Clearbridge Investments LLC increased its position in Alphabet by 6.8% in the first quarter. 1,070,469 shares of the stock were exchanged.

In related news, SVP David C. Drummond sold 2,000 shares of the firm's stock in a transaction dated Monday, June 12th. Following the completion of the sale, the insider now directly owns 85,916 shares in the company, valued at $77,558,091.52. In the last quarter, insiders sold 42,085 shares of company stock worth $38,486,001. Osborn Williams & Donohoe LLC now owns 763 shares of the information services provider's stock worth $605,000 after buying an additional 24 shares during the period.

TRADEMARK VIOLATION WARNING: This article was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. Trust Co. of Virginia VA now owns 423 shares of the information services provider's stock worth $351,000 after buying an additional 3 shares during the last quarter.

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.