Alphabet (NASDAQ:GOOGL) Rating Reiterated by JMP Securities

Alphabet (NASDAQ:GOOGL)‘s stock had its “market outperform” rating reiterated by JMP Securities in a report issued on Wednesday, Benzinga reports. They currently have a $200.00 target price on the information services provider’s stock. JMP Securities’ price target would suggest a potential upside of 22.90% from the stock’s current price.

GOOGL has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday, August 30th. DA Davidson assumed coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Guggenheim increased their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Bank of America boosted their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.35.

Alphabet Stock Up 0.8 %

Alphabet stock opened at $162.73 on Wednesday. The company has a market capitalization of $2.01 trillion, a PE ratio of 24.96, a PEG ratio of 1.21 and a beta of 1.04. Alphabet has a 12-month low of $120.21 and a 12-month high of $191.75. The firm’s fifty day moving average is $163.41 and its 200 day moving average is $166.14. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the business earned $1.44 EPS. As a group, sell-side analysts predict that Alphabet will post 7.63 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 180,867 shares of company stock worth $29,878,106 over the last three months. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MorganRosel Wealth Management LLC raised its position in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 57 shares during the last quarter. Hengehold Capital Management LLC boosted its stake in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares during the period. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Joseph P. Lucia & Associates LLC increased its position in Alphabet by 1.0% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after acquiring an additional 64 shares during the period. Finally, Sunflower Bank N.A. raised its stake in Alphabet by 1.0% during the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Company Profile

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.