Alphabet (NASDAQ:GOOGL) Stock Rating Reaffirmed by JMP Securities

JMP Securities reissued their market outperform rating on shares of Alphabet (NASDAQ:GOOGL) in a report published on Wednesday, Benzinga reports. The firm currently has a $200.00 target price on the information services provider’s stock.

Several other analysts also recently weighed in on the company. Mizuho raised their target price on Alphabet from $205.00 to $210.00 and gave the company an outperform rating in a research note on Wednesday. Roth Mkm raised their target price on Alphabet from $202.00 to $206.00 and gave the company a buy rating in a research note on Wednesday. Tigress Financial raised their target price on Alphabet from $176.00 to $210.00 and gave the company a strong-buy rating in a research note on Friday, May 24th. UBS Group raised their target price on Alphabet from $200.00 to $204.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Citigroup raised their target price on Alphabet from $168.00 to $190.00 and gave the company a buy rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of Moderate Buy and a consensus price target of $203.74.

Alphabet Stock Down 0.2 %

Shares of NASDAQ GOOGL opened at $167.00 on Wednesday. Alphabet has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a market cap of $2.06 trillion, a P/E ratio of 25.61, a P/E/G ratio of 1.25 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.15 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $179.04 and a 200 day moving average price of $160.48.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’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 transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The stock was 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 in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,388 shares of company stock worth $21,497,609. 11.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new position in Alphabet in the 1st quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the 4th quarter worth approximately $38,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.