Alphabet (NASDAQ:GOOGL) Rating Reiterated by JMP Securities

Alphabet (NASDAQ:GOOGL)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $200.00 price target on the information services provider’s stock. JMP Securities’ target price indicates a potential upside of 17.67% from the stock’s current price.

A number of other equities analysts also recently commented on the company. KeyCorp lifted their price target on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Wolfe Research initiated coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. TD Securities raised their target price on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Finally, Canaccord Genuity Group raised their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Stock Up 0.3 %

Shares of Alphabet stock traded up $0.44 during trading hours on Tuesday, hitting $169.97. 9,490,359 shares of the company’s stock traded hands, compared to its average volume of 27,975,328. The stock has a 50 day simple moving average of $178.89 and a 200-day simple moving average of $160.80. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.10 trillion, a PE ratio of 26.07, a PEG ratio of 1.25 and a beta of 1.05. Alphabet has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the firm earned $1.44 earnings per share. Equities research analysts anticipate that Alphabet will post 7.62 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The disclosure for this sale can be found here. Insiders sold a total of 122,308 shares of company stock valued at $21,484,218 in the last quarter. Company insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Alphabet by 3.7% during the second quarter. International Assets Investment Management LLC now owns 43,483 shares of the information services provider’s stock worth $7,920,000 after buying an additional 1,550 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Alphabet by 1.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 821,295 shares of the information services provider’s stock worth $149,599,000 after buying an additional 10,899 shares during the last quarter. Atlas Capital Advisors LLC boosted its position in Alphabet by 117.4% during the second quarter. Atlas Capital Advisors LLC now owns 38,995 shares of the information services provider’s stock worth $7,103,000 after purchasing an additional 21,054 shares during the period. Boston Financial Mangement LLC boosted its position in shares of Alphabet by 2.0% in the second quarter. Boston Financial Mangement LLC now owns 140,606 shares of the information services provider’s stock valued at $25,611,000 after acquiring an additional 2,704 shares during the period. Finally, Key Financial Inc raised its stake in shares of Alphabet by 8.6% during the second quarter. Key Financial Inc now owns 16,598 shares of the information services provider’s stock worth $3,023,000 after acquiring an additional 1,312 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.