Alphabet Inc. (GOOG) Stock Rating Reaffirmed by Credit Suisse Group AG
Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “outperform” rating restated by stock analysts at Credit Suisse Group AG in a report issued on Monday. They currently have a $1,070.00 price target on the stock, up from their prior price target of $940.00. Credit Suisse Group AG’s target price would indicate a potential upside of 37.19% from the stock’s previous close.
Several other research firms have also weighed in on GOOG. Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research note on Friday, July 29th. RBC Capital Markets reissued an “outperform” rating and issued a $1,025.00 target price (up previously from $1,000.00) on shares of Alphabet in a research note on Friday, September 30th. Deutsche Bank AG reissued a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a research note on Wednesday, October 12th. SunTrust Banks Inc. reissued a “buy” rating and issued a $900.00 target price (up previously from $850.00) on shares of Alphabet in a research note on Sunday, July 31st. Finally, Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 target price on the stock. in a research note on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average price target of $929.51.
Alphabet (NASDAQ:GOOG) traded up 0.18% during trading on Monday, reaching $779.96. The company’s stock had a trading volume of 1,092,852 shares. Alphabet has a 52 week low of $641.73 and a 52 week high of $792.28. The stock’s 50 day moving average is $774.66 and its 200-day moving average is $741.88. The firm has a market cap of $536.05 billion, a P/E ratio of 30.22 and a beta of 1.03.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/credit-suisse-group-ag-reaffirms-buy-rating-for-alphabet-inc-goog.html
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same quarter in the prior year, the firm posted $6.99 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet will post $34.14 earnings per share for the current fiscal year.
In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $739.21, for a total value of $2,956,840.00. Following the transaction, the chief executive officer now directly owns 3,297 shares of the company’s stock, valued at approximately $2,437,175.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lawrence Page sold 33,332 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $716.51, for a total value of $23,882,711.32. Following the completion of the transaction, the chief executive officer now directly owns 30,666 shares in the company, valued at $21,972,495.66. The disclosure for this sale can be found here. Company insiders own 13.92% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lakeview Capital Partners LLC increased its position in shares of Alphabet by 0.3% in the second quarter. Lakeview Capital Partners LLC now owns 327 shares of the company’s stock worth $226,000 after buying an additional 1 shares in the last quarter. GW Henssler & Associates Ltd. increased its position in shares of Alphabet by 0.6% in the second quarter. GW Henssler & Associates Ltd. now owns 340 shares of the company’s stock worth $235,000 after buying an additional 2 shares in the last quarter. Shufro Rose & Co. LLC increased its position in shares of Alphabet by 0.6% in the second quarter. Shufro Rose & Co. LLC now owns 357 shares of the company’s stock worth $247,000 after buying an additional 2 shares in the last quarter. 1st Global Advisors Inc. increased its position in shares of Alphabet by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 658 shares of the company’s stock worth $455,000 after buying an additional 3 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its position in shares of Alphabet by 0.7% in the second quarter. Tradewinds Capital Management LLC now owns 420 shares of the company’s stock worth $291,000 after buying an additional 3 shares in the last quarter. 34.39% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.