Alphabet Inc. (GOOGL) Given “Buy” Rating at SunTrust Banks, Inc.
SunTrust Banks, Inc. reaffirmed their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research note issued to investors on Thursday. SunTrust Banks, Inc. currently has a $1,100.00 price objective on the information services provider’s stock.
A number of other research firms have also weighed in on GOOGL. Zacks Investment Research lowered Alphabet from a hold rating to a sell rating in a research note on Monday, July 17th. Credit Suisse Group reissued an outperform rating on shares of Alphabet in a research note on Friday, June 30th. Piper Jaffray Companies reissued an overweight rating and set a $1,050.00 price objective on shares of Alphabet in a research note on Wednesday, August 9th. MKM Partners reissued a buy rating and set a $1,170.00 price objective on shares of Alphabet in a research note on Wednesday, June 28th. Finally, JMP Securities reissued a buy rating and set a $1,077.00 price objective (down previously from $1,095.00) on shares of Alphabet in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $1,053.45.
Alphabet (GOOGL) traded down 0.74% during midday trading on Thursday, reaching $942.85. 629,553 shares of the company traded hands. Alphabet has a one year low of $743.59 and a one year high of $1,008.61. The stock’s 50 day moving average is $946.67 and its 200 day moving average is $922.99. The company has a market capitalization of $653.28 billion, a price-to-earnings ratio of 34.17 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. The company had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same period last year, the company posted $8.42 EPS. On average, equities analysts anticipate that Alphabet will post $30.59 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. State of Alaska Department of Revenue bought a new stake in Alphabet during the 2nd quarter valued at approximately $102,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in Alphabet during the 1st quarter valued at approximately $108,000. Delta Asset Management LLC TN raised its stake in Alphabet by 1.5% during the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after purchasing an additional 2 shares during the period. Parkside Financial Bank & Trust raised its stake in Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after purchasing an additional 36 shares during the period. Finally, Odey Holdings AG raised its stake in Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after purchasing an additional 20 shares during the period. 33.88% of the stock is currently owned by institutional investors.
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.
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