Susquehanna Bancshares Raises Alphabet Inc Class C (GOOG) Price Target to $1,500.00

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Alphabet Inc Class C (NASDAQ:GOOG) had its price objective upped by Susquehanna Bancshares from $1,250.00 to $1,500.00 in a research report released on Tuesday, July 24th, The Fly reports. Susquehanna Bancshares currently has a positive rating on the information services provider’s stock.

Other analysts have also issued reports about the company. Raymond James reiterated an outperform rating and set a $1,405.00 price objective (up from $1,240.00) on shares of Alphabet Inc Class C in a report on Tuesday, July 24th. Robert W. Baird reiterated a buy rating on shares of Alphabet Inc Class C in a report on Tuesday, July 24th. Oppenheimer increased their price objective on Alphabet Inc Class C from $1,350.00 to $1,450.00 and gave the stock an outperform rating in a report on Tuesday, July 24th. Barclays reiterated a buy rating on shares of Alphabet Inc Class C in a report on Monday, July 16th. Finally, Credit Suisse Group reiterated a buy rating on shares of Alphabet Inc Class C in a report on Monday, July 16th. Three analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $1,245.96.

Shares of Alphabet Inc Class C stock opened at $1,200.96 on Tuesday. The firm has a market capitalization of $861.31 billion, a PE ratio of 37.47 and a beta of 1.13. The company has a quick ratio of 4.13, a current ratio of 4.15 and a debt-to-equity ratio of 0.02. Alphabet Inc Class C has a 12 month low of $903.40 and a 12 month high of $1,273.89.

Alphabet Inc Class C (NASDAQ:GOOG) last issued its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.66 by $2.09. The business had revenue of $32.66 billion during the quarter, compared to analysts’ expectations of $32.13 billion. Alphabet Inc Class C had a return on equity of 18.24% and a net margin of 13.16%. Alphabet Inc Class C’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm posted $5.01 earnings per share.

In other Alphabet Inc Class C news, Director John L. Hennessy sold 724 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $1,250.30, for a total transaction of $905,217.20. Following the transaction, the director now directly owns 442 shares in the company, valued at $552,632.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $1,139.18, for a total value of $11,391,800.00. Following the transaction, the chief executive officer now owns 912 shares in the company, valued at $1,038,932.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,369 shares of company stock worth $104,846,172. Corporate insiders own 13.11% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Smart Portfolios LLC acquired a new stake in Alphabet Inc Class C during the first quarter worth about $103,000. Stuart Chaussee & Associates Inc. grew its position in Alphabet Inc Class C by 108.3% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after buying an additional 52 shares in the last quarter. Braun Bostich & Associates Inc. acquired a new stake in Alphabet Inc Class C during the first quarter worth about $107,000. Litman Gregory Asset Management LLC acquired a new stake in Alphabet Inc Class C during the first quarter worth about $113,000. Finally, Price Wealth Management Inc. acquired a new stake in Alphabet Inc Class C during the fourth quarter worth about $125,000. Institutional investors and hedge funds own 34.27% of the company’s stock.

About Alphabet Inc Class C

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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