Alphabet (NASDAQ:GOOGL) Given New $200.00 Price Target at JPMorgan Chase & Co.

Alphabet (NASDAQ:GOOGL) had its target price upped by investment analysts at JPMorgan Chase & Co. from $165.00 to $200.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 16.31% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Robert W. Baird lifted their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler reiterated an “overweight” rating and issued a $200.00 price target (up previously from $160.00) on shares of Alphabet in a report on Friday. Royal Bank of Canada restated an “outperform” rating and set a $155.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Sanford C. Bernstein lifted their target price on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday. Finally, JMP Securities lifted their target price on shares of Alphabet from $160.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Stock Up 10.2 %

GOOGL stock opened at $171.95 on Friday. The stock has a market capitalization of $2.14 trillion, a P/E ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. The company has a 50 day moving average price of $147.85 and a two-hundred day moving average price of $141.42. Alphabet has a one year low of $103.54 and a one year high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same quarter last year, the business earned $1.05 EPS. As a group, sell-side analysts expect that Alphabet will post 6.79 EPS for the current year.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 in the last quarter. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the 1st quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $38,000. Meritage Group LP lifted its stake in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. Finally, Macroview Investment Management LLC lifted its stake in shares of Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the period. 40.03% of the stock is 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.