Alphabet Inc (GOOG) is Upgraded by Pivotal Research Group to Buy, Raises Price Target to $ 970

Alphabet Inc (GOOG) was Upgraded by Pivotal Research Group to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 970 from a previous price target of $800 . Earlier the firm had a rating of “Hold ” on the company shares. Pivotal Research Group advised their investors in a research report released on Apr 11, 2016.

Many Wall Street Analysts have commented on Alphabet Inc. Company shares were Upgraded by Pivotal Research Group on Apr 11, 2016 to ” Buy”, Firm has raised the Price Target to $ 970 from a previous price target of $800 .Company shares were Reiterated by UBS on Apr 6, 2016 to “Buy”, Firm has raised the Price Target to $ 880 from a previous price target of $875 .Company shares were Reiterated by Needham on Feb 2, 2016 to “Buy”, Firm has raised the Price Target to $ 910 from a previous price target of $830 .

On the company’s financial health, Alphabet Inc reported $8.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.58 according to the earnings call on Feb 1, 2016. Analyst had a consensus of $8.09. The company had revenue of $21329.00 million for the quarter, compared to analysts expectations of $20764.23 million. The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.88 EPS.

Alphabet Inc closed down -3.05 points or -0.41% at $736.1 with 12,20,088 shares getting traded on Monday. Post opening the session at $743.02, the shares hit an intraday low of $736.05 and an intraday high of $745 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Apr 6, 2016, Sergey Brin (President) sold 33,340 shares at $757.08 per share price. According to the SEC, on Apr 6, 2016, Sundar Pichai (CEO, Google Inc.) sold 4,000 shares at $746.93 per share price. On Mar 14, 2016, David C Drummond (SVP, Corporate Development) sold 5,000 shares at $735.68 per share price, according to the Form-4 filing with the securities and exchange commission.

Alphabet Inc (Alphabet) is a collection of Companies. The Company’s collection include Calico Google’s health and longevity effort; Nest its connected home business; Fiber its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital and incubator projects such as Google X. These will be managed separately in Alphabet. On October 2 2015 Google implemented a holding company reorganization pursuant to the Agreement and Plan of Merger (the Merger Agreement) dated as of October 2 2015 among Google Alphabet and Maple Technologies Inc. a Delaware corporation (Merger Sub) which resulted in Alphabet owning all of the outstanding capital stock of Google. Pursuant to the Alphabet Merger Merger Sub a direct wholly owned subsidiary of Alphabet and an indirect wholly owned subsidiary of Google merged with and into Google with Google surviving as a direct wholly owned subsidiary of Alphabet.

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