JMP Securities Reiterate Market Perform Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL – Get a Free Report)Its stock had a “market outperform” rating restated by analysts at JMP Securities in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $200.00 price target on the information services provider’s stock. JMP Securities’ price target indicates a potential upside of 23.66% from the company’s previous close.

Several other brokerages also recently commented on GOOGL. Citigroup upped their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Evercore ISI cut their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Finally, TD Securities upped their target price on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Eight 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. Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $201.08, according to MarketBeat.

Read the latest stock analysis on Alphabet

Alphabet price performance

Shares of GOOGL traded down $0.55 during trading hours on Wednesday, reaching $161.74. 8,010,931 shares of the company traded hands, compared to its average volume of 27,579,904. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08, and a quick ratio of 2.08. The company has a market cap of $1.99 trillion, a PE ratio of 24.81, a PEG ratio of 1.21 and a beta of 1.04. The firm has a fifty day simple moving average of $163.80 and a 200 day simple moving average of $166.17. Alphabet has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL – Get Free Report ) last released 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 during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. In the same quarter last year, the company posted EPS of $1.44. As a group, sell-side analysts predict that Alphabet will post 7.63 earnings per share for the current year.

Insider activity at Alphabet

In other news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at $4,590,960. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In related news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now owns 27,824 shares of the company’s stock, valued at $4,590,960. The transaction was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,867 shares of company stock worth $29,878,106. Company insiders own 11.55% of the company’s shares.

Institutional investors intervene in the alphabet

Several large investors have recently made changes to their positions in GOOGL. Nebula Research & Development LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $787,000. New Hampshire Trust raised its position in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. purchased a new position in shares of Alphabet in the first quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP boosted its holdings in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after purchasing an additional 2,351 shares in the last quarter. Finally, Johnson Financial Group Inc. grew its position in Alphabet by 14.5% in the fourth quarter. Johnson Financial Group Inc. now owns 21,803 shares of the information services provider’s stock worth $3,046,000 after buying an additional 2,763 shares during the period. Institutional investors own 40.03% of the company’s shares.

About Alphabet

(Get a free report)

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

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