Alphabet (NASDAQ:GOOGL) Price Target Raised to $200.00 at JMP Securities

Alphabet (NASDAQ:GOOGL) had its price target increased by JMP Securities from $160.00 to $200.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “market outperform” rating on the information services provider’s stock. JMP Securities’ target price would indicate a potential upside of 16.31% from the stock’s previous close.

Several other research analysts have also recently commented on GOOGL. Barclays upped their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Redburn Atlantic upped their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wedbush upped their target price on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Truist Financial upped their target price on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $171.95 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a fifty-two week low of $103.54 and a fifty-two week high of $174.71. The firm has a 50-day simple moving average of $147.85 and a 200 day simple moving average of $141.42. The company has a market cap of $2.14 trillion, a PE ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. On average, sell-side analysts anticipate that Alphabet will post 6.79 EPS for the current year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GOOGL. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth $15,441,917,000. FMR LLC increased its stake in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after purchasing an additional 6,010,548 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Alphabet by 4,894.1% during the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.