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

JMP Securities reaffirmed their market outperform rating on shares of Alphabet (NASDAQ:GOOGL – Get Rating) in a report issued on Thursday morning, Benzinga reports. They currently have a $132.00 price target on the information services provider’s stock.

A number of other analysts have also recently weighed in on the company. Tigress Financial lowered their price target on Alphabet from $186.00 to $160.00 and set a strong-buy rating on the stock in a research report on Friday, January 6th. New Street Research initiated coverage on Alphabet in a research report on Wednesday, January 4th. They issued a buy rating and a $118.00 price target on the stock. Evercore ISI lowered their price target on Alphabet from $130.00 to $120.00 and set an outperform rating on the stock in a research report on Wednesday, December 21st. Truist Financial lowered their price target on Alphabet from $130.00 to $120.00 and set a buy rating on the stock in a research report on Friday, February 3rd. Finally, StockNews.com initiated coverage on Alphabet in a research report on Thursday. They issued a hold rating on the stock. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $132.44.

Alphabet Stock Up 1.3 %

Shares of GOOGL stock opened at $101.62 on Thursday. Alphabet has a 12 month low of $83.34 and a 12 month high of $143.79. The firm has a market cap of $1.30 trillion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09. The stock has a 50 day moving average of $95.08 and a 200-day moving average of $96.18. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the previous year, the company posted $1.53 earnings per share. On average, equities analysts predict that Alphabet will post 5.12 EPS for the current year.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the sale, the director now directly owns 144,740 shares in the company, valued at approximately $14,474,000. The disclosure for this sale can be found here. Insiders have sold a total of 74,245 shares of company stock valued at $7,174,078 over the last 90 days. 11.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Claro Advisors LLC grew its stake in Alphabet by 1,923.8% in the fourth quarter. Claro Advisors LLC now owns 18,983 shares of the information services provider’s stock valued at $1,675,000 after purchasing an additional 18,045 shares in the last quarter. Mather Group LLC. grew its stake in Alphabet by 9.4% in the fourth quarter. Mather Group LLC. now owns 31,379 shares of the information services provider’s stock valued at $2,769,000 after purchasing an additional 2,694 shares in the last quarter. Capital Asset Advisory Services LLC grew its stake in Alphabet by 19.1% in the fourth quarter. Capital Asset Advisory Services LLC now owns 41,848 shares of the information services provider’s stock valued at $3,668,000 after purchasing an additional 6,711 shares in the last quarter. Sheets Smith Wealth Management grew its stake in Alphabet by 7.1% in the fourth quarter. Sheets Smith Wealth Management now owns 11,600 shares of the information services provider’s stock valued at $1,023,000 after purchasing an additional 765 shares in the last quarter. Finally, Great Lakes Retirement Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $6,985,000. 34.06% of the stock is currently owned by institutional investors.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.