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

Alphabet (NASDAQ:GOOGL)‘s stock had its “market perform” rating reissued by investment analysts at JMP Securities in a research note issued to investors on Friday,Benzinga reports.

Several other research firms have also issued reports on GOOGL. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Nine investment 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 MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $207.08.

Alphabet Stock Performance

Shares of Alphabet stock traded down $0.99 on Friday, reaching $192.96. 8,242,334 shares of the stock were exchanged, compared to its average volume of 21,067,381. The firm has a market capitalization of $2.36 trillion, a PE ratio of 25.59, a PEG ratio of 1.35 and a beta of 0.98. Alphabet has a 1-year low of $130.66 and a 1-year high of $201.42. The business has a fifty day moving average price of $182.20 and a two-hundred day moving average price of $173.01. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

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

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,406,343.27. This trade represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,887 shares of company stock valued at $27,996,356 over the last quarter. 11.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. LMR Partners LLP purchased a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter valued at approximately $41,000. Quarry LP bought a new stake in Alphabet during the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet in the 3rd quarter worth $66,000. Finally, Mendota Financial Group LLC raised its position in shares of Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares in the last quarter. 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.