Alphabet (NASDAQ:GOOG) Price Target Raised to $300.00 at JPMorgan Chase & Co.

Alphabet (NASDAQ:GOOG) had its price target hoisted by JPMorgan Chase & Co. from $260.00 to $300.00 in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has an overweight rating on the information services provider’s stock.

Several other research firms have also commented on GOOG. TD Cowen increased their price objective on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Oppenheimer set a $300.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $280.45.

Alphabet Trading Up 3.6%

GOOG opened at $269.93 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet has a fifty-two week low of $142.66 and a fifty-two week high of $270.80. The firm has a market capitalization of $3.26 trillion, a PE ratio of 28.75, a P/E/G ratio of 1.76 and a beta of 1.00. The company’s 50-day moving average is $238.65 and its 200 day moving average is $197.67.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. RDA Financial Network boosted its holdings in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the period. Bleakley Financial Group LLC boosted its holdings in Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after purchasing an additional 2,304 shares during the period. Oldfather Financial Services LLC bought a new position in Alphabet in the 2nd quarter valued at $213,000. Tower View Wealth Management LLC boosted its holdings in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. boosted its holdings in Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after purchasing an additional 1,970 shares during the period. 27.26% of the stock is owned by institutional investors.

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.