SunTrust Banks, Inc. restated their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research report sent to investors on Thursday. SunTrust Banks, Inc. currently has a $1,100.00 target price on the information services provider’s stock.
Several other analysts have also issued reports on the company. Vetr raised Alphabet from a buy rating to a strong-buy rating and set a $1,069.98 target price on the stock in a report on Tuesday, June 27th. Societe Generale set a $1,210.00 price objective on Alphabet and gave the stock a buy rating in a research report on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley restated an overweight rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday, May 24th. Wells Fargo & Company restated an outperform rating and set a $1,150.00 price objective on shares of Alphabet in a research report on Saturday, July 22nd. Finally, Zacks Investment Research downgraded Alphabet from a hold rating to a sell rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $1,053.45.
Shares of Alphabet (NASDAQ:GOOGL) traded down 0.89% on Thursday, reaching $941.41. The company had a trading volume of 999,916 shares. The firm has a market capitalization of $652.28 billion, a price-to-earnings ratio of 34.12 and a beta of 0.98. Alphabet has a 52-week low of $743.59 and a 52-week high of $1,008.61. The company’s 50-day moving average price is $945.22 and its 200-day moving average price is $923.12.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.25 by $3.24. The company 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 period last year, the company posted $8.42 earnings per share. On average, analysts predict that Alphabet will post $30.59 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Alphabet’s (GOOGL) Buy Rating Reiterated at SunTrust Banks, Inc.” was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://sportsperspectives.com/2017/09/10/alphabets-googl-buy-rating-reiterated-at-suntrust-banks-inc.html.
A number of institutional investors have recently modified their holdings of GOOGL. Chevy Chase Trust Holdings Inc. lifted its holdings in Alphabet by 3.2% during the first quarter. Chevy Chase Trust Holdings Inc. now owns 303,273 shares of the information services provider’s stock worth $257,114,000 after acquiring an additional 9,454 shares during the period. Rathbone Brothers plc lifted its holdings in Alphabet by 18.6% during the first quarter. Rathbone Brothers plc now owns 35,495 shares of the information services provider’s stock worth $30,093,000 after acquiring an additional 5,556 shares during the period. Watch Point Trust Co lifted its holdings in Alphabet by 1.3% during the first quarter. Watch Point Trust Co now owns 1,194 shares of the information services provider’s stock worth $1,013,000 after acquiring an additional 15 shares during the period. CENTRAL TRUST Co lifted its holdings in Alphabet by 4.8% during the first quarter. CENTRAL TRUST Co now owns 7,819 shares of the information services provider’s stock worth $6,629,000 after acquiring an additional 358 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. bought a new stake in Alphabet during the first quarter worth $325,000. Institutional investors and hedge funds own 33.88% of the company’s stock.
Alphabet Company Profile
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.
Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.