JPMorgan Chase & Co. Issues Pessimistic Forecast for Alphabet (NASDAQ:GOOGL) Stock Price

Alphabet (NASDAQ:GOOGL) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $232.00 to $220.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 14.82% from the stock’s current price.

Other research analysts have also issued reports about the company. Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Roth Mkm lifted their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Price Performance

NASDAQ:GOOGL opened at $191.60 on Wednesday. The firm has a market cap 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. The company’s 50-day moving average price is $190.83 and its two-hundred day moving average price is $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. Alphabet has a 12 month low of $130.66 and a 12 month high of $207.05.

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

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock valued at $16,600,078 over the last ninety days. 11.55% of the stock is owned by company insiders.

Institutional Trading of Alphabet

A number of large investors have recently bought and sold shares of GOOGL. Compass Planning Associates Inc bought a new position in shares of Alphabet in the fourth quarter worth $30,000. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp grew its stake in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.