Alphabet’s (GOOG) Buy Rating Reiterated at SunTrust Banks, Inc.

Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reaffirmed by investment analysts at SunTrust Banks, Inc. in a research report issued on Saturday. They currently have a $1,100.00 price objective on the information services provider’s stock. SunTrust Banks, Inc.’s price objective points to a potential upside of 18.47% from the stock’s current price.

Several other research firms have also recently issued reports on GOOG. Piper Jaffray Companies reissued an “overweight” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday, August 9th. Moffett Nathanson reissued a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. BidaskClub cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. MKM Partners reissued a “buy” rating and issued a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $1,180.00 price objective on shares of Alphabet in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-one have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,031.14.

Alphabet (NASDAQ:GOOG) traded down 0.42% during trading on Friday, reaching $928.53. 1,052,704 shares of the company were exchanged. The company’s 50-day moving average price is $924.03 and its 200-day moving average price is $909.94. The stock has a market capitalization of $643.36 billion, a P/E ratio of 33.65 and a beta of 0.94. Alphabet has a 1-year low of $727.54 and a 1-year high of $988.25.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same period in the previous year, the company earned $8.42 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities analysts forecast that Alphabet will post $30.59 EPS for the current year.

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In other Alphabet news, Director Ann Mather sold 629 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $932.28, for a total transaction of $586,404.12. Following the transaction, the director now directly owns 1,781 shares of the company’s stock, valued at $1,660,390.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP David C. Drummond sold 1,496 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the transaction, the senior vice president now directly owns 52 shares in the company, valued at $48,867.52. The disclosure for this sale can be found here. Insiders have sold 42,680 shares of company stock worth $39,700,363 over the last three months. 13.92% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Advisors Inc. lifted its holdings in Alphabet by 0.4% during the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 1 shares in the last quarter. Capital Investment Advisory Services LLC lifted its holdings in Alphabet by 0.4% during the second quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock valued at $230,000 after purchasing an additional 1 shares in the last quarter. Capital Advantage Inc. lifted its holdings in Alphabet by 0.4% during the second quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after purchasing an additional 1 shares in the last quarter. Howland Capital Management LLC lifted its holdings in Alphabet by 0.3% during the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock valued at $528,000 after purchasing an additional 2 shares in the last quarter. Finally, Foster & Motley Inc. lifted its holdings in Alphabet by 0.8% during the second quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock valued at $241,000 after purchasing an additional 2 shares in the last quarter. 34.52% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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