SunTrust Banks Boosts Alphabet (GOOG) Price Target to $1,250.00

Alphabet (NASDAQ:GOOG) had its price target increased by SunTrust Banks to $1,250.00 in a report issued on Friday, The Fly reports. SunTrust Banks currently has a buy rating on the information services provider’s stock.

Several other research analysts have also issued reports on the stock. Deutsche Bank reiterated a buy rating on shares of Alphabet in a research note on Wednesday, October 25th. JPMorgan Chase & Co. reiterated a buy rating on shares of Alphabet in a research note on Friday, October 27th. Vetr lowered shares of Alphabet from a buy rating to a hold rating and set a $1,067.64 price target for the company. in a research note on Monday, November 20th. Goldman Sachs Group reiterated a buy rating on shares of Alphabet in a research note on Friday, October 20th. Finally, Morgan Stanley reiterated a buy rating on shares of Alphabet in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-seven have given 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 $1,052.31.

Shares of Alphabet (GOOG) traded up $8.44 during trading on Friday, hitting $1,130.70. 607,024 shares of the company traded hands, compared to its average volume of 1,350,000. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The company has a market cap of $788,530.00, a price-to-earnings ratio of 37.66 and a beta of 0.94. Alphabet has a 52 week low of $790.52 and a 52 week high of $1,139.91.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 20.09% and a return on equity of 14.26%. Alphabet’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the business earned $9.06 EPS.

In other news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $993.58, for a total transaction of $3,974,320.00. Following the sale, the chief executive officer now owns 1,471 shares in the company, valued at $1,461,556.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 38 shares of Alphabet stock in a transaction that occurred on 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 sale, the director now owns 1,805 shares in the company, valued at approximately $1,836,064.05. The disclosure for this sale can be found here. Insiders have sold 36,900 shares of company stock worth $37,877,147 in the last ninety days. Insiders own 13.92% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in GOOG. Gofen & Glossberg LLC IL increased its position in Alphabet by 1.1% in the fourth quarter. Gofen & Glossberg LLC IL now owns 44,431 shares of the information services provider’s stock worth $46,493,000 after purchasing an additional 485 shares during the last quarter. Pennsylvania Trust Co bought a new stake in Alphabet in the fourth quarter worth $13,806,000. Atria Investments LLC increased its position in Alphabet by 17.1% in the fourth quarter. Atria Investments LLC now owns 4,072 shares of the information services provider’s stock worth $4,261,000 after purchasing an additional 595 shares during the last quarter. Starfire Investment Advisers Inc. increased its position in Alphabet by 14.3% in the fourth quarter. Starfire Investment Advisers Inc. now owns 593 shares of the information services provider’s stock worth $621,000 after purchasing an additional 74 shares during the last quarter. Finally, Colorado Capital Management Inc. bought a new stake in Alphabet in the fourth quarter worth $288,000. Hedge funds and other institutional investors own 34.65% of the company’s stock.

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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.

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