Alphabet (NASDAQ:GOOGL) Given New $200.00 Price Target at JMP Securities

Alphabet (NASDAQ:GOOGL) had its target price boosted by JMP Securities from $160.00 to $200.00 in a report published on Friday morning, Benzinga reports. They currently have a market outperform rating on the information services provider’s stock.

Several other equities analysts have also issued reports on GOOGL. BMO Capital Markets restated an outperform rating and issued a $185.00 target price (up previously from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. Mizuho upped their target price on Alphabet from $170.00 to $190.00 and gave the company a buy rating in a research report on Friday. Barclays raised their target price on Alphabet from $173.00 to $200.00 and gave the stock an overweight rating in a research note on Friday. Redburn Atlantic boosted their price target on Alphabet from $150.00 to $165.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Finally, Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a positive rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $189.44.

Alphabet Price Performance

Shares of GOOGL opened at $166.15 on Friday. The business has a 50-day moving average of $148.36 and a 200-day moving average of $141.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. Alphabet has a 1 year low of $103.71 and a 1 year high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter last year, the business earned $1.17 EPS. As a group, equities research analysts anticipate that Alphabet will post 6.82 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.48%.

Insider Buying and Selling

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 value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,209 shares of company stock worth $36,711,144. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several large investors have recently modified their holdings of GOOGL. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet in the 4th quarter valued at approximately $30,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the first quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Meritage Group LP lifted its holdings in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC boosted its stake in 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 purchasing an additional 199 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Alphabet

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.