Alphabet (NASDAQ:GOOG) had its price objective upped by stock analysts at SunTrust Banks to $1,250.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the information services provider’s stock. SunTrust Banks’ price objective suggests a potential upside of 11.55% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on GOOG. Robert W. Baird reissued an “outperform” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Saturday, September 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Saturday, September 23rd. Bank of America restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Tuesday, September 26th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday, September 29th. Finally, Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $988.73 price target for the company. in a research report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet presently has an average rating of “Buy” and an average target price of $1,052.31.
Shares of Alphabet (GOOG) traded up $15.01 on Friday, hitting $1,120.53. The stock had a trading volume of 542,516 shares, compared to its average volume of 1,380,000. Alphabet has a one year low of $790.52 and a one year high of $1,120.68. The company has a market cap of $780,830.00, a PE ratio of 37.33 and a beta of 0.94. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.
In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $1,072.64, for a total transaction of $4,290,560.00. Following the transaction, the chief executive officer now owns 803 shares of the company’s stock, valued at approximately $861,329.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 38 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total transaction of $38,653.98. Following the completion of the transaction, the director now directly owns 1,805 shares in the company, valued at approximately $1,836,064.05. The disclosure for this sale can be found here. Insiders sold 36,900 shares of company stock worth $37,877,147 in the last ninety days. 13.92% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after acquiring an additional 589,654 shares during the last quarter. BlackRock Inc. lifted its holdings in Alphabet by 4.8% during the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after buying an additional 826,480 shares in the last quarter. FMR LLC increased its position in Alphabet by 0.4% during the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after purchasing an additional 62,507 shares during the period. State Street Corp increased its position in Alphabet by 0.3% during the 1st quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock valued at $10,010,859,000 after purchasing an additional 36,864 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Alphabet by 0.7% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 9,831,305 shares of the information services provider’s stock worth $7,641,775,000 after buying an additional 65,873 shares during the last quarter. Institutional investors and hedge funds own 34.63% of the company’s stock.
About Alphabet
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.
