Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by investment analysts at SunTrust Banks Inc. in a report released on Wednesday. They currently have a $900.00 price target on the stock. SunTrust Banks Inc.’s price target points to a potential upside of 15.91% from the company’s current price.
GOOG has been the topic of a number of other research reports. Citigroup Inc. restated a “buy” rating and set a $900.00 price target on shares of Alphabet in a report on Saturday, June 18th. Stifel Nicolaus restated a “buy” rating and set a $925.00 price target (up previously from $888.00) on shares of Alphabet in a report on Friday, July 29th. Longbow Research initiated coverage on Alphabet in a report on Wednesday, July 6th. They set a “buy” rating on the stock. Macquarie restated an “outperform” rating and set a $975.00 price target on shares of Alphabet in a report on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 price target on Alphabet and gave the company a “buy” rating in a report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $926.55.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.01% during mid-day trading on Wednesday, hitting $776.47. The stock had a trading volume of 1,458,311 shares. The firm has a market cap of $533.65 billion, a PE ratio of 30.09 and a beta of 1.03. The stock’s 50-day moving average price is $773.32 and its 200-day moving average price is $739.53. Alphabet has a 52-week low of $625.56 and a 52-week high of $789.87.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.03 by $0.39. The firm had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.99 earnings per share. On average, analysts anticipate that Alphabet will post $34.30 earnings per share for the current fiscal year.
In other news, VP James Grier Campbell sold 603 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total transaction of $462,609.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sergey Brin sold 66,664 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $785.10, for a total transaction of $52,337,906.40. Following the transaction, the insider now directly owns 28,200 shares in the company, valued at $22,139,820. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management bought a new position in shares of Alphabet during the second quarter worth approximately $121,000. Whitnell & Co. raised its position in shares of Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock worth $129,000 after buying an additional 32 shares during the period. D. Scott Neal Inc. raised its position in shares of Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares during the period. Pathstone Family Office LLC raised its position in shares of Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock worth $154,000 after buying an additional 15 shares during the period. Finally, Cacti Asset Management LLC bought a new position in shares of Alphabet during the second quarter worth approximately $159,000. 34.39% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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