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

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

A number of other research firms also recently issued reports on GOOGL. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Stifel Nicolaus boosted their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Needham & Company LLC boosted their price target on Alphabet from $210.00 to $225.00 and gave the company a “buy” rating in a report on Monday. Finally, Bank of America reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $209.82.

Alphabet Stock Up 1.8 %

Alphabet stock opened at $195.30 on Monday. The business’s 50-day simple moving average is $186.79 and its two-hundred day simple moving average is $173.61. 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 has a market cap of $2.39 trillion, a PE ratio of 25.90, a PEG ratio of 1.27 and a beta of 0.98. Alphabet has a fifty-two week low of $130.66 and a fifty-two week high of $202.29.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm posted $1.55 EPS. Equities analysts anticipate that Alphabet will post 8.02 EPS for the current year.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock worth $22,470,464 over the last 90 days. 11.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently modified their holdings of GOOGL. International Assets Investment Management LLC boosted its stake in shares of Alphabet by 43,005.6% during the third 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 buying an additional 18,700,111 shares during the period. SG Americas Securities LLC raised its stake in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Finally, Wulff Hansen & CO. increased its holdings in shares of Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares during the period. 40.03% of the stock is 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.