Alphabet (NASDAQ:GOOGL) had its target price boosted by stock analysts at SunTrust Banks from $1,805.00 to $1,850.00 in a report issued on Friday, Briefing.com Automated Import reports. The firm presently has a “buy” rating on the information services provider’s stock. SunTrust Banks’ target price indicates a potential upside of 24.33% from the company’s previous close.

A number of other brokerages have also commented on GOOGL. Robert W. Baird raised their price objective on shares of Alphabet from $1,500.00 to $1,650.00 in a report on Thursday, June 25th. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and lifted their price target for the company from $1,550.00 to $1,600.00 in a research note on Friday. BMO Capital Markets upped their price objective on Alphabet from $1,550.00 to $1,750.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays lifted their target price on Alphabet from $1,400.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,616.00 price target for the company in a research note on Monday, July 13th. Four analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,657.51.

NASDAQ:GOOGL opened at $1,487.95 on Friday. Alphabet has a 1 year low of $1,008.87 and a 1 year high of $1,587.05. The stock has a 50-day moving average price of $1,473.93 and a two-hundred day moving average price of $1,375.65. The stock has a market cap of $1,015.70 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.27 and a beta of 1.06. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The business had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. Sell-side analysts forecast that Alphabet will post 42.07 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Wintrust Investments LLC raised its stake in Alphabet by 13.3% in the 1st quarter. Wintrust Investments LLC now owns 978 shares of the information services provider’s stock worth $1,136,000 after purchasing an additional 115 shares in the last quarter. Optimum Investment Advisors increased its holdings in shares of Alphabet by 4.1% during the first quarter. Optimum Investment Advisors now owns 538 shares of the information services provider’s stock worth $625,000 after purchasing an additional 21 shares during the period. Harwood Advisory Group LLC raised its position in shares of Alphabet by 32.1% in the first quarter. Harwood Advisory Group LLC now owns 420 shares of the information services provider’s stock valued at $487,000 after buying an additional 102 shares in the last quarter. Old North State Trust LLC raised its position in shares of Alphabet by 36.1% in the first quarter. Old North State Trust LLC now owns 132 shares of the information services provider’s stock valued at $153,000 after buying an additional 35 shares in the last quarter. Finally, J. L. Bainbridge & Co. Inc. boosted its stake in shares of Alphabet by 2.5% in the first quarter. J. L. Bainbridge & Co. Inc. now owns 14,100 shares of the information services provider’s stock valued at $16,383,000 after buying an additional 338 shares during the period. Institutional investors and hedge funds own 34.14% of the company’s stock.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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