Wedbush Downgrades Alphabet Inc to Underperform

Brokerage firm Wedbush Downgrades its rating on Alphabet Inc(NASDAQ:GOOGL). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Wedbush was issued on Sep 27, 2016.

In a different note, On Jul 29, 2016, UBS said it Maintains its rating on Alphabet Inc. In the research note, the firm Raises the price-target to $880.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 29, 2016, SunTrust Robinson Humphrey said it Maintains its rating on Alphabet Inc. In the research note, the firm Raises the price-target to $850.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 29, 2016, JMP Securities said it Maintains its rating on Alphabet Inc. In the research note, the firm Raises the price-target to $904.00 per share. The shares have been rated ‘Market Outperform’ by the firm. On Jul 29, 2016, Deutsche Bank said it Maintains its rating on Alphabet Inc. The shares have been rated ‘Buy’ by the firm. On Jul 29, 2016, Jefferies said it Maintains its rating on Alphabet Inc. The shares have been rated ‘Buy’ by the firm. On Jul 29, 2016, CLSA said it Maintains its rating on Alphabet Inc. In the research note, the firm Raises the price-target to $970.00 per share. The shares have been rated ‘Buy’ by the firm.

Alphabet Inc (GOOGL) made into the market gainers list on Fridays trading session with the shares advancing 0.18% or 1.42 points. Due to strong positive momentum, the stock ended at $804.06, which is also near the day’s high of $808.09. The stock began the session at $803.6 and the volume stood at 16,60,201 shares. The 52-week high of the shares is $819.06 and the 52 week low is $629.15. The company has a current market capitalization of $552,609 M and it has 68,72,73,800 shares in outstanding.

Alphabet Inc(GOOGL) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $21.50B. Analysts had an estimated revenue of $20.75B. Earnings per share were $8.42. Analysts had estimated an EPS of $8.04.

Alphabet Inc (Alphabet) is a collection of Companies. The Company’s collection include Calico Google’s health and longevity effort; Nest its connected home business; Fiber its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital and incubator projects such as Google X. These will be managed separately in Alphabet. On October 2 2015 Google implemented a holding company reorganization pursuant to the Agreement and Plan of Merger (the Merger Agreement) dated as of October 2 2015 among Google Alphabet and Maple Technologies Inc. a Delaware corporation (Merger Sub) which resulted in Alphabet owning all of the outstanding capital stock of Google. Pursuant to the Alphabet Merger Merger Sub a direct wholly owned subsidiary of Alphabet and an indirect wholly owned subsidiary of Google merged with and into Google with Google surviving as a direct wholly owned subsidiary of Alphabet.

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