Stock analysts at SunTrust Banks, Inc. initiated coverage on shares of Alphabet Inc. (NASDAQ:GOOG) in a research note issued to investors on Wednesday. The firm set a “buy” rating and a $1,100.00 price target on the information services provider’s stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 19.28% from the company’s current price.

A number of other research firms have also recently commented on GOOG. UBS AG reiterated a “buy” rating and set a $1,080.00 price objective on shares of Alphabet in a research report on Tuesday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $1,100.00 price objective (up previously from $1,050.00) on shares of Alphabet in a research report on Tuesday, July 25th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Finally, JMP Securities reiterated an “outperform” rating and set a $1,077.00 price objective on shares of Alphabet in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $1,031.10.

Alphabet (NASDAQ GOOG) traded up 0.82% on Wednesday, hitting $929.75. The stock had a trading volume of 400,548 shares. The company has a market capitalization of $644.20 billion, a price-to-earnings ratio of 33.70 and a beta of 0.94. Alphabet has a 52 week low of $727.54 and a 52 week high of $988.25. The firm has a 50-day moving average of $934.57 and a 200 day moving average of $891.34.

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

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In other Alphabet news, Director Ann Mather sold 629 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was 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 in the company, valued at approximately $1,660,390.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Grier Campbell sold 183 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total value of $177,317.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,169 shares of company stock worth $40,499,322. Company insiders own 13.92% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GOOG. Burt Wealth Advisors boosted its stake in shares of Alphabet by 17.2% in the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares during the period. Signature Estate & Investment Advisors LLC boosted its stake in shares of Alphabet by 3.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after buying an additional 5 shares during the period. Riggs Asset Managment Co. Inc. boosted its stake in shares of Alphabet by 39.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares during the period. Farmers National Bank boosted its stake in shares of Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the period. Finally, Pacific Center for Financial Services bought a new stake in shares of Alphabet during the fourth quarter valued at about $142,000. 34.57% 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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