JMP Securities Reiterates “Market Outperform” Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a report issued on Monday, Benzinga reports. They presently have a $200.00 target price on the information services provider’s stock. JMP Securities’ price target indicates a potential upside of 25.53% from the company’s previous close.

Several other research firms have also recently issued reports on GOOGL. Bank of America raised their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Cantor Fitzgerald initiated coverage on Alphabet in a report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price target on the stock. Piper Sandler decreased their price target on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Jefferies Financial Group increased their target price on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Trading Up 0.8 %

Shares of GOOGL opened at $159.32 on Monday. The stock has a fifty day moving average price of $166.25 and a two-hundred day moving average price of $165.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market cap of $1.97 trillion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.13 and a beta of 1.04. Alphabet has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. Analysts predict that Alphabet will post 7.64 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were 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 owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock worth $30,139,931 in the last ninety days. 11.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gratus Capital LLC raised its holdings in shares of Alphabet by 17.1% during the 4th quarter. Gratus Capital LLC now owns 225,943 shares of the information services provider’s stock worth $31,562,000 after buying an additional 33,039 shares in the last quarter. McKinley Carter Wealth Services Inc. raised its holdings in shares of Alphabet by 7.0% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 76,863 shares of the information services provider’s stock worth $10,737,000 after buying an additional 5,057 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Alphabet by 1.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 48,300 shares of the information services provider’s stock worth $6,747,000 after buying an additional 564 shares in the last quarter. Partnership Wealth Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth $80,000. Finally, King Wealth Management Group raised its holdings in shares of Alphabet by 5.0% during the 4th quarter. King Wealth Management Group now owns 49,758 shares of the information services provider’s stock worth $6,951,000 after buying an additional 2,388 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.