Alphabet (NASDAQ:GOOGL) Stock Rating Lowered by JMP Securities

Alphabet (NASDAQ:GOOGL) was downgraded by JMP Securities from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports.

GOOGL has been the subject of several other research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Roth Mkm increased their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, KeyCorp boosted their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $206.69.

Alphabet Stock Down 1.0 %

Shares of Alphabet stock opened at $189.30 on Thursday. Alphabet has a one year low of $130.66 and a one year high of $201.42. The company has a market cap of $2.32 trillion, a P/E ratio of 25.11, a PEG ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a fifty day moving average of $179.17 and a two-hundred day moving average of $172.28.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the business posted $1.55 earnings per share. On average, analysts forecast that Alphabet will post 8.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,588 shares of company stock valued at $24,473,081 over the last three months. Company insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently modified their holdings of the stock. LMR Partners LLP acquired a new position in Alphabet during the third quarter worth $32,000. Kings Path Partners LLC bought a new position in shares of Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter worth approximately $41,000. Quarry LP acquired a new stake in Alphabet in the 2nd quarter worth approximately $53,000. Finally, Summit Securities Group LLC bought a new stake in Alphabet during the second quarter worth approximately $55,000. Institutional investors and hedge funds 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.