Alphabet’s (GOOGL) “Market Perform” Rating Reaffirmed at JMP Securities

Alphabet (NASDAQ:GOOGL)‘s stock had its “market perform” rating restated by research analysts at JMP Securities in a research report issued on Wednesday,Benzinga reports.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Bank of America reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Loop Capital boosted their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, KeyCorp raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Stock Performance

Shares of GOOGL stock opened at $191.60 on Wednesday. The company’s fifty day moving average price is $190.83 and its two-hundred day moving average price is $174.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.35 trillion, a P/E ratio of 25.41, a P/E/G ratio of 1.31 and a beta of 0.99. Alphabet has a 12 month low of $130.66 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. On average, research analysts anticipate that Alphabet will post 8.02 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock valued at $16,600,078 over the last ninety days. Insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in shares of Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC increased its holdings in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after buying an additional 9,135,056 shares during the last quarter. Proficio Capital Partners LLC raised its position in Alphabet by 20,990.0% during the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after acquiring an additional 6,157,413 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.