JMP Securities Reiterates “Market Perform” Rating for Alphabet (NASDAQ:GOOGL)

JMP Securities restated their market perform rating on shares of Alphabet (NASDAQ:GOOGL) in a report published on Wednesday,Benzinga reports.

A number of other research analysts also recently weighed in on GOOGL. Needham & Company LLC reiterated a “buy” rating and set a $225.00 price target on shares of Alphabet in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Morgan Stanley decreased their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Sanford C. Bernstein upped their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.95.

Alphabet Stock Performance

Shares of GOOGL opened at $191.33 on Wednesday. The company has a 50-day moving average of $190.39 and a two-hundred day moving average of $174.40. The stock has a market cap of $2.34 trillion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet has a one year low of $130.66 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates 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 research analysts expect that Alphabet will post 8.02 earnings per share for the current year.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % 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, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 in the last ninety days. 11.55% of the stock is currently owned by insiders.

Institutional Trading of Alphabet

Several institutional investors have recently made changes to their positions in GOOGL. Maverick Capital Ltd. acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $2,038,000. Matrix Private Capital Group LLC grew its position in Alphabet by 3.9% in the second quarter. Matrix Private Capital Group LLC now owns 6,046 shares of the information services provider’s stock valued at $1,101,000 after acquiring an additional 226 shares during the period. Makena Capital Management LLC raised its stake in Alphabet by 31.6% during the second quarter. Makena Capital Management LLC now owns 91,520 shares of the information services provider’s stock worth $16,670,000 after acquiring an additional 21,997 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Alphabet by 14.6% during the second quarter. Mackenzie Financial Corp now owns 7,660,106 shares of the information services provider’s stock valued at $1,395,288,000 after acquiring an additional 975,341 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at $610,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.