Alphabet’s (GOOGL) Market Perform Rating Reaffirmed at JMP Securities

Alphabet (NASDAQ:GOOGL)‘s stock had its “market perform” rating reaffirmed by equities researchers at JMP Securities in a note issued to investors on Tuesday,Benzinga reports.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Cantor Fitzgerald decreased their price target on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research report on Thursday, February 6th. Mizuho cut their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus lowered their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $199.46.

Alphabet Stock Down 0.2 %

GOOGL stock traded down $0.41 during trading hours on Tuesday, hitting $163.81. The company’s stock had a trading volume of 6,206,631 shares, compared to its average volume of 28,080,934. The stock has a 50 day moving average price of $160.02 and a two-hundred day moving average price of $175.50. Alphabet has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a market capitalization of $1.99 trillion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the prior year, the business posted $1.89 earnings per share. On average, equities research analysts expect that Alphabet will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,824 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,815,948.32. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the transaction, the insider now owns 43,111 shares of the company’s stock, valued at $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,824 shares of company stock worth $25,086,603 in the last quarter. Insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. M. Kulyk & Associates LLC grew its holdings in shares of Alphabet by 3.8% in the 1st quarter. M. Kulyk & Associates LLC now owns 84,196 shares of the information services provider’s stock valued at $13,020,000 after buying an additional 3,120 shares during the period. BlueChip Wealth Advisors LLC grew its position in shares of Alphabet by 12.7% in the 1st quarter. BlueChip Wealth Advisors LLC now owns 2,083 shares of the information services provider’s stock valued at $322,000 after purchasing an additional 235 shares during the period. KLP Kapitalforvaltning AS increased its stake in Alphabet by 0.5% during the 1st quarter. KLP Kapitalforvaltning AS now owns 2,148,660 shares of the information services provider’s stock worth $332,269,000 after purchasing an additional 11,600 shares in the last quarter. WMG Financial Advisors LLC raised its holdings in Alphabet by 5.8% during the 1st quarter. WMG Financial Advisors LLC now owns 6,087 shares of the information services provider’s stock worth $941,000 after buying an additional 332 shares during the period. Finally, United Bank lifted its stake in Alphabet by 2.1% in the first quarter. United Bank now owns 45,084 shares of the information services provider’s stock valued at $6,972,000 after buying an additional 910 shares in the last quarter. 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.