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

JMP Securities reiterated their market perform rating on shares of Alphabet (NASDAQ:GOOGL) in a report released on Friday morning,Benzinga reports.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley raised their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Robert W. Baird reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.08.

Alphabet Trading Down 1.0 %

Shares of NASDAQ GOOGL opened at $192.04 on Friday. Alphabet has a 1-year low of $130.66 and a 1-year high of $201.42. The business has a fifty day moving average price of $182.62 and a 200 day moving average price of $172.95. The stock has a market capitalization of $2.35 trillion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. 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 (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business posted $1.55 EPS. Equities research analysts expect that Alphabet will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,406,343.27. This represents a 9.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,387 shares of company stock valued at $27,748,931. 11.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Several hedge funds have recently added to or reduced their stakes in the stock. LMR Partners LLP purchased a new stake in Alphabet in the third quarter valued at approximately $32,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter worth $41,000. Quarry LP acquired a new stake in Alphabet during the 2nd quarter worth $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in Alphabet during the 3rd quarter worth $66,000. Finally, Mendota Financial Group LLC grew its position in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.