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

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

GOOGL has been the topic of a number of other research reports. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. KeyCorp boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada lifted their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Ten investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Trading Up 0.1 %

NASDAQ GOOGL opened at $191.60 on Wednesday. Alphabet has a 52 week low of $130.66 and a 52 week high of $207.05. The firm has a 50 day moving average of $190.83 and a two-hundred day moving average of $174.52. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.35 trillion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts expect that Alphabet will post 8.02 EPS for the current fiscal year.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently bought and sold shares of GOOGL. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the fourth quarter worth $30,000. LMR Partners LLP acquired a new stake in Alphabet in the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. raised its position in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $39,000. Finally, PayPay Securities Corp boosted its position in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.