Alphabet (NASDAQ:GOOGL) Rating Increased to Market Outperform at JMP Securities

Alphabet (NASDAQ:GOOGL - Get Free Report) was upgraded by stock analysts at JMP Securities from a "market perform" rating to a "market outperform" rating in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a $220.00 price objective on the information services provider's stock. JMP Securities' target price would indicate a potential upside of 26.77% from the company's current price.

A number of other research analysts also recently weighed in on the company. KeyCorp lifted their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Morgan Stanley lowered their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Bank of America increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Finally, DA Davidson lowered their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Nine analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $199.95.

Alphabet Stock Up 1.7%

GOOGL stock opened at $173.54 on Friday. The firm has a market cap of $2.11 trillion, a PE ratio of 19.35, a P/E/G ratio of 1.09 and a beta of 1.01. Alphabet has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50 day simple moving average of $165.90 and a 200 day simple moving average of $174.57.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 EPS. Equities research analysts forecast that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the sale, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 216,195 shares of company stock worth $35,764,898. Company insiders own 11.64% of the company's stock.

Institutional Trading of Alphabet

A number of hedge funds have recently modified their holdings of the company. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet during the first quarter worth $28,000. Compass Planning Associates Inc bought a new position in shares of Alphabet during the fourth quarter valued at $30,000. Finally, NBZ Investment Advisors LLC boosted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Institutional investors 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.

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