Alphabet (NASDAQ:GOOGL) Receives Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Alphabet (NASDAQ:GOOGL) in a report released on Monday morning, Benzinga reports. The brokerage currently has a $200.00 price objective on the information services provider’s stock.

A number of other research analysts have also issued reports on GOOGL. Rosenblatt Securities reaffirmed a neutral rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Cantor Fitzgerald initiated coverage on shares of Alphabet in a research note on Thursday, September 5th. They issued a neutral rating and a $190.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an equal weight rating in a research note on Wednesday, July 24th. Truist Financial lifted their price target on shares of Alphabet from $190.00 to $196.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Finally, Roth Mkm reiterated a buy rating and set a $206.00 price objective on shares of Alphabet in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of Moderate Buy and a consensus price target of $201.08.

Alphabet Stock Up 1.5 %

Alphabet stock opened at $162.14 on Monday. Alphabet has a 52 week low of $120.21 and a 52 week high of $191.75. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.13 and a beta of 1.04. The company’s 50-day moving average price is $165.15 and its two-hundred day moving average price is $165.11. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the business earned $1.44 earnings per share. On average, analysts expect that Alphabet will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock valued at $29,762,606 over the last ninety days. 11.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter worth $36,000. Tributary Capital Management LLC bought a new stake in Alphabet in the first quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the fourth quarter valued at about $30,000. Finally, Denver PWM LLC bought a new position in Alphabet during the second quarter worth about $41,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.