Alphabet (NASDAQ:GOOGL) Given Buy Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their buy rating on shares of Alphabet (NASDAQ:GOOGLFree Report) in a research note published on Monday morning,MarketScreener reports.

Other research analysts have also recently issued research reports about the company. Robert W. Baird lifted their target price on Alphabet from $310.00 to $350.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. BNP Paribas Exane assumed coverage on Alphabet in a research note on Monday, November 24th. They issued an “outperform” rating and a $355.00 price objective on the stock. New Street Research boosted their target price on Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Citic Securities raised their price target on shares of Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Wells Fargo & Company set a $354.00 price target on shares of Alphabet and gave the company an “equal weight” rating in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $357.46.

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Alphabet Stock Performance

Shares of GOOGL stock opened at $324.32 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market capitalization of $3.91 trillion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. Alphabet has a one year low of $140.53 and a one year high of $349.00. The company has a 50 day moving average price of $321.80 and a 200 day moving average price of $272.22.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.25. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The company had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Sell-side analysts anticipate that Alphabet will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 7.77%.

Insider Activity

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $19.00, for a total value of $35,060,852.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the sale, the chief accounting officer directly owned 11,739 shares in the company, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,067,686 shares of company stock worth $105,352,291. 11.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently bought and sold shares of the company. Moment Partners LLC increased its holdings in Alphabet by 9.3% during the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares in the last quarter. Welch Group LLC boosted its stake in Alphabet by 4.0% in the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares in the last quarter. Brooktree Capital Management bought a new stake in shares of Alphabet during the second quarter worth $352,000. Griffin Asset Management Inc. increased its stake in shares of Alphabet by 13.9% in the third quarter. Griffin Asset Management Inc. now owns 58,731 shares of the information services provider’s stock valued at $14,277,000 after buying an additional 7,180 shares in the last quarter. Finally, Birchcreek Wealth Management LLC raised its holdings in shares of Alphabet by 2.9% in the second quarter. Birchcreek Wealth Management LLC now owns 8,028 shares of the information services provider’s stock valued at $1,415,000 after buying an additional 223 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

About Alphabet

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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