Alphabet (NASDAQ:GOOGL) Rating Reiterated by JMP Securities

Alphabet (NASDAQ:GOOGL)‘s stock had its “market outperform” rating reissued by JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $200.00 price target on the information services provider’s stock. JMP Securities’ price objective suggests a potential upside of 17.67% from the company’s current price.

Several other brokerages have also commented on GOOGL. Raymond James boosted their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. TD Securities boosted their price objective on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Susquehanna increased their price objective on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Argus increased their price objective on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Tigress Financial increased their target price on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. Six research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $203.74.

Alphabet Price Performance

Shares of GOOGL traded up $0.44 during midday trading on Tuesday, hitting $169.97. 9,490,359 shares of the company traded hands, compared to its average volume of 27,975,328. The stock has a 50-day moving average of $178.89 and a 200-day moving average of $160.80. Alphabet has a one year low of $120.21 and a one year high of $191.75. The firm has a market cap of $2.10 trillion, a P/E ratio of 26.07, a PEG ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, sell-side analysts predict that Alphabet will post 7.62 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold 122,308 shares of company stock valued at $21,484,218 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Prairie Sky Financial Group LLC lifted its position in Alphabet by 44.0% during the fourth quarter. Prairie Sky Financial Group LLC now owns 2,851 shares of the information services provider’s stock worth $398,000 after buying an additional 871 shares in the last quarter. Precedent Wealth Partners LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $482,000. Burns J W & Co. Inc. NY grew its stake in shares of Alphabet by 4.6% in the fourth quarter. Burns J W & Co. Inc. NY now owns 23,141 shares of the information services provider’s stock valued at $3,233,000 after buying an additional 1,011 shares in the last quarter. Hill Investment Group Partners LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $523,000. Finally, Symphony Financial Ltd. Co. grew its stake in shares of Alphabet by 1,585.6% in the fourth quarter. Symphony Financial Ltd. Co. now owns 29,836 shares of the information services provider’s stock valued at $4,222,000 after buying an additional 28,066 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.