JMP Securities Reaffirms Market Perform Rating for Alphabet (NASDAQ:GOOGL)

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

GOOGL has been the topic of several other research reports. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. DA Davidson upped their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Cantor Fitzgerald dropped their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded down $17.26 during trading on Wednesday, reaching $189.12. The company had a trading volume of 32,877,691 shares, compared to its average volume of 26,173,271. The firm’s fifty day moving average is $190.39 and its 200 day moving average is $174.40. The firm has a market capitalization of $2.32 trillion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. Alphabet has a twelve month low of $130.66 and a twelve month high of $207.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its 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 forecast that Alphabet will post 8.02 EPS for the current year.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,029 shares of company stock valued at $18,462,883 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

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