Alphabet’s (GOOGL) Buy Rating Reaffirmed at SunTrust Banks, Inc.
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reiterated by equities researchers at SunTrust Banks, Inc. in a report released on Thursday. They presently have a $1,100.00 price target on the information services provider’s stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 16.77% from the company’s previous close.
Several other brokerages also recently weighed in on GOOGL. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 target price for the company in a research report on Monday, June 5th. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Citigroup Inc. upped their target price on Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating and issued a $1,100.00 target price (down previously from $1,150.00) on shares of Alphabet in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $1,200.00 target price on shares of Alphabet in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,053.45.
Shares of Alphabet (NASDAQ GOOGL) traded up 0.75% during trading on Thursday, reaching $949.07. The company had a trading volume of 816,872 shares. The firm has a market capitalization of $657.59 billion, a price-to-earnings ratio of 34.40 and a beta of 0.98. The firm has a 50-day moving average of $947.90 and a 200 day moving average of $922.79. Alphabet has a 52 week low of $743.59 and a 52 week high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. The firm had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter in the prior year, the company earned $8.42 earnings per share. On average, equities research analysts forecast that Alphabet will post $30.59 earnings per share for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in shares of Alphabet during the 2nd quarter worth $102,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Alphabet during the 1st quarter worth $108,000. Delta Asset Management LLC TN boosted its stake in shares of Alphabet by 1.5% during the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after acquiring an additional 2 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares in the last quarter. Finally, Odey Holdings AG boosted its stake in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. 33.88% of the stock is owned by institutional investors and hedge funds.
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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