Alphabet (NASDAQ:GOOGL) Earns “Market Perform” Rating from JMP Securities

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

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company raised their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein boosted their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Evercore ISI lifted their price target on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.08.

Alphabet Trading Down 1.0 %

Shares of GOOGL opened at $192.04 on Friday. Alphabet has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. 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 company’s fifty day moving average is $182.62 and its 200 day moving average is $173.02. The stock has a market capitalization of $2.35 trillion, a PE ratio of 25.47, a P/E/G ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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 business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Sell-side analysts expect that Alphabet will post 8.01 earnings per share for the current fiscal year.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This trade represents a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,887 shares of company stock valued at $27,996,356. 11.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GOOGL. Graypoint LLC increased its stake in Alphabet by 2.5% during the fourth quarter. Graypoint LLC now owns 64,918 shares of the information services provider’s stock worth $12,289,000 after purchasing an additional 1,607 shares during the period. Lynch & Associates IN increased its stake in Alphabet by 2.4% during the 4th quarter. Lynch & Associates IN now owns 31,272 shares of the information services provider’s stock worth $5,920,000 after buying an additional 738 shares during the period. Atlas Brown Inc. increased its stake in Alphabet by 3.1% during the 4th quarter. Atlas Brown Inc. now owns 12,229 shares of the information services provider’s stock worth $2,315,000 after buying an additional 373 shares during the period. HBW Advisory Services LLC lifted its holdings in Alphabet by 20.3% during the 4th quarter. HBW Advisory Services LLC now owns 33,155 shares of the information services provider’s stock worth $6,276,000 after buying an additional 5,602 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC boosted its position in Alphabet by 2.3% in the 4th quarter. Heartwood Wealth Advisors LLC now owns 9,135 shares of the information services provider’s stock valued at $1,729,000 after buying an additional 209 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.