Shares of Alphabet Inc (NASDAQ:GOOG) reached a new 52-week high on Friday after SunTrust Banks raised their price target on the stock to $1,250.00. SunTrust Banks currently has a buy rating on the stock. Alphabet traded as high as $1,120.38 and last traded at $1,120.07, with a volume of 917863 shares trading hands. The stock had previously closed at $1,105.52.
Several other research firms also recently weighed in on GOOG. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday. Vetr cut Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective for the company. in a report on Wednesday. BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Piper Jaffray Companies boosted their price objective on Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a report on Thursday. Finally, UBS Group reissued a “buy” rating on shares of Alphabet in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,052.31.
In other news, Director Ann Mather sold 38 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $1,048.34, for a total value of $39,836.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $993.58, for a total value of $3,974,320.00. Following the completion of the sale, the chief executive officer now owns 1,471 shares of the company’s stock, valued at $1,461,556.18. The disclosure for this sale can be found here. Insiders have sold 36,900 shares of company stock valued at $37,877,147 in the last three months. Insiders own 13.92% of the company’s stock.
The firm has a market cap of $782,040.00, a PE ratio of 37.38 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.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $9.06 earnings per share.
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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