Alphabet’s (GOOGL) Buy Rating Reiterated at SunTrust Banks Inc.
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reissued by analysts at SunTrust Banks Inc. in a research report issued to clients and investors on Wednesday. They currently have a $900.00 target price on the stock. SunTrust Banks Inc.’s price objective would suggest a potential upside of 12.11% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Pacific Crest reissued a “buy” rating on shares of Alphabet in a report on Wednesday, June 22nd. Evercore ISI reaffirmed a “buy” rating and issued a $830.00 price target (down previously from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Citigroup Inc. reaffirmed a “buy” rating and issued a $900.00 price target on shares of Alphabet in a report on Friday, June 17th. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $815.96 price target for the company. in a report on Wednesday, June 15th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $926.06.
Shares of Alphabet (NASDAQ:GOOGL) traded up 0.49% during trading on Wednesday, hitting $806.73. The stock had a trading volume of 577,324 shares. Alphabet has a 52-week low of $654.49 and a 52-week high of $819.06. The firm’s 50-day moving average is $799.87 and its 200 day moving average is $758.88. The firm has a market cap of $554.44 billion, a price-to-earnings ratio of 31.26 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, analysts expect that Alphabet will post $34.26 EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock valued at $102,000 after buying an additional 72 shares in the last quarter. Archford Capital Strategies LLC boosted its position in Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock worth $104,000 after buying an additional 34 shares during the last quarter. Roble Belko & Company Inc boosted its position in Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock worth $108,000 after buying an additional 115 shares during the last quarter. MCF Advisors LLC boosted its position in Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock worth $112,000 after buying an additional 3 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd purchased a new position in Alphabet during the second quarter worth $117,000. Hedge funds and other institutional investors own 34.12% of the company’s stock.
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.
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