Alphabet’s (NASDAQ:GOOG) “Outperform” Rating Reaffirmed at JMP Securities
JMP Securities reissued their outperform rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research report released on Tuesday morning. JMP Securities currently has a $1,077.00 target price on the information services provider’s stock.
A number of other analysts also recently weighed in on GOOG. UBS AG reaffirmed a buy rating and issued a $980.00 target price on shares of Alphabet in a research report on Monday, March 27th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating on shares of Alphabet in a research report on Tuesday. Needham & Company LLC reaffirmed a buy rating and issued a $1,100.00 target price (up from $1,050.00) on shares of Alphabet in a research report on Tuesday. Pivotal Research reaffirmed a hold rating and issued a $980.00 target price (down from $990.00) on shares of Alphabet in a research report on Monday, July 17th. Finally, Aegis reaffirmed a buy rating and issued a $1,011.00 target price on shares of Alphabet in a research report on Sunday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $1,012.23.
Alphabet (GOOG) traded up 0.80% on Tuesday, hitting $941.53. 1,846,351 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $944.07 and a 200-day moving average price of $881.26. The stock has a market cap of $652.37 billion, a P/E ratio of 34.12 and a beta of 0.94. Alphabet has a 52-week low of $727.54 and a 52-week high of $988.25.
Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.43 by $0.58. The firm had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.42 EPS. Analysts predict that Alphabet will post $30.74 earnings per share for the current fiscal year.
In other news, Director Shirley M. Tilghman sold 525 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $938.09, for a total transaction of $492,497.25. Following the completion of the transaction, the director now directly owns 5,517 shares in the company, valued at approximately $5,175,442.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total value of $3,925,800.00. Following the transaction, the chief executive officer now owns 2,058 shares of the company’s stock, valued at $2,019,824.10. The disclosure for this sale can be found here. Insiders have sold a total of 46,793 shares of company stock valued at $43,987,234 over the last quarter. Corporate insiders own 13.92% of the company’s stock.
A number of hedge funds have recently modified their holdings of GOOG. State Street Corp increased its stake in shares of Alphabet by 0.3% in the first quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock worth $10,010,859,000 after buying an additional 36,864 shares in the last quarter. Dodge & Cox bought a new stake in shares of Alphabet during the fourth quarter worth about $2,387,502,000. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth about $2,128,163,000. Harbour Capital Advisors LLC increased its stake in shares of Alphabet by 87,001.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after buying an additional 1,991,465 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Alphabet by 12.0% in the first quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock worth $1,404,065,000 after buying an additional 181,085 shares in the last quarter. Institutional investors own 34.60% of the company’s stock.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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