Alphabet (NASDAQ:GOOGL) Given “Market Outperform” Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Alphabet (NASDAQ:GOOGL – Get Rating) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $132.00 price target on the information services provider’s stock.

Other analysts have also recently issued reports about the company. Rosenblatt Securities dropped their price target on Alphabet from $130.00 to $128.00 and set a buy rating for the company in a report on Friday, February 3rd. Credit Suisse Group dropped their price target on Alphabet from $145.00 to $136.00 and set an outperform rating for the company in a report on Friday, February 3rd. Roth Capital reissued a buy rating on shares of Alphabet in a report on Friday, February 3rd. KeyCorp dropped their price target on Alphabet from $118.00 to $117.00 and set an overweight rating for the company in a report on Monday, January 30th. Finally, Needham & Company LLC reissued a buy rating and set a $115.00 price target on shares of Alphabet in a report on Wednesday, March 8th. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of Moderate Buy and an average price target of $132.44.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $101.62 on Thursday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet has a 12 month low of $83.34 and a 12 month high of $143.79. The stock has a 50 day moving average of $95.08 and a 200-day moving average of $96.18. The company has a market capitalization of $1.30 trillion, a P/E ratio of 22.33, a P/E/G ratio of 1.39 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. As a group, equities research analysts predict that Alphabet will post 5.12 EPS for the current year.

Insider Buying and Selling

In related news, Director Ann Mather sold 340 shares of the business’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now owns 11,300 shares in the company, valued at approximately $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ann Mather sold 340 shares of the business’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now owns 11,300 shares in the company, valued at approximately $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold 74,245 shares of company stock worth $7,174,078 in the last 90 days. Insiders own 11.44% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently made changes to their positions in the stock. Willow Creek Wealth Management Inc. grew its position in shares of Alphabet by 1,926.9% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after buying an additional 17,631 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Alphabet in the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 49,628 shares during the period. Bridgewater Advisors Inc. lifted its stake in shares of Alphabet by 3,005.0% in the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after purchasing an additional 65,329 shares during the period. Finally, Adell Harriman & Carpenter Inc. lifted its stake in shares of Alphabet by 1,915.2% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock valued at $12,415,000 after purchasing an additional 123,356 shares during the period. Institutional investors own 34.06% of the company’s stock.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.