Alphabet Inc (NASDAQ:GOOG) shares reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement, MarketBeat.Com reports. The stock traded as high as $789.87 and last traded at $777.95, with a volume of 4,272,330 shares trading hands. The stock had previously closed at $752.00.

The company reported $8.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.09 by $0.58. The business had revenue of $21.33 billion for the quarter, compared to analyst estimates of $20.78 billion.

Several analysts have commented on the stock. Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $720.38 target price on the stock. in a report on Tuesday, October 6th. Cantor Fitzgerald restated a “buy” rating and set a $720.00 target price on shares of Alphabet in a report on Monday, October 19th. Wedbush assumed coverage on shares of Alphabet in a report on Tuesday, October 20th. They set a “neutral” rating and a $700.00 target price on the stock. SunTrust restated a “buy” rating and set a $770.00 target price on shares of Alphabet in a report on Wednesday, October 21st. Finally, FBR & Co. raised their target price on shares of Alphabet from $749.00 to $809.00 and gave the stock an “outperform” rating in a report on Friday, October 23rd. Five research analysts have rated the stock with a hold rating, forty have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $879.61.

In other Alphabet news, CEO Lawrence Page sold 33,332 shares of the company’s stock in a transaction on Monday, November 16th. The stock was sold at an average price of $732.59, for a total value of $24,418,689.88. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $54,944,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director L John Doerr sold 4,789 shares of the company’s stock in a transaction on Friday, January 15th. The shares were sold at an average price of $696.12, for a total value of $3,333,718.68. Following the completion of the transaction, the director now owns 149 shares of the company’s stock, valued at approximately $103,721.88. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have made changes to their positions in GOOG. Beacon Financial Group increased its position in shares of Alphabet by 7.2% in the fourth quarter. Beacon Financial Group now owns 1,199 shares of the company’s stock worth $924,000 after buying an additional 81 shares during the period. Park National increased its position in Alphabet by 38.7% in the fourth quarter. Park National now owns 728 shares of the company’s stock valued at $553,000 after buying an additional 203 shares during the last quarter. EQIS Capital Management purchased a new position in Alphabet during the fourth quarter valued at $1,334,000. Stillwater Investment Management increased its position in Alphabet by 0.7% in the fourth quarter. Stillwater Investment Management now owns 1,301 shares of the company’s stock valued at $987,000 after buying an additional 9 shares during the last quarter. Finally, Centre Asset Management increased its position in Alphabet by 3.9% in the fourth quarter. Centre Asset Management now owns 19,109 shares of the company’s stock valued at $14,501,000 after buying an additional 719 shares during the last quarter.

The firm has a 50-day moving average of $733.54 and a 200-day moving average of $684.32. The stock has a market capitalization of $530.47 billion and a P/E ratio of 32.51.

Alphabet Inc (NASDAQ:GOOG) 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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