Alphabet Inc (GOOG) was Reiterated by Credit Suisse to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 1070 from a previous price target of $940 . Credit Suisse advised their investors in a research report released on Oct 17, 2016.
Many Wall Street Analysts have commented on Alphabet Inc. Company shares were Reiterated by Needham on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 900 from a previous price target of $825 .
On the company’s financial health, Alphabet Inc reported $8.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.38 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $8.04. The company had revenue of $21500.00 million for the quarter, compared to analysts expectations of $20774.44 million. The company’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.99 EPS.
Alphabet Inc opened for trading at $781.65 and hit $783.95 on the upside on Friday, eventually ending the session at $778.53, with a gain of 0.04% or 0.34 points. The heightened volatility saw the trading volume jump to 8,52,487 shares. Company has a market cap of $535,063 M.
In a different news, on Oct 5, 2016, Sundar Pichai (CEO, Google Inc.) sold 4,000 shares at $792.66 per share price. According to the SEC, on Oct 3, 2016, James Grier Campbell (VP, Alphabet Corp. Controller) sold 194 shares at $774.25 per share price. On Oct 3, 2016, Ann Mather (director) sold 44 shares at $788.40 per share price, according to the Form-4 filing with the securities and exchange commission.
Alphabet Inc (Alphabet) is a collection of Companies. The Companys collection include Calico Googles 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.