JPMorgan Chase & Co. Raises Alphabet (NASDAQ:GOOGL) Price Target to $200.00

Alphabet (NASDAQ:GOOGL) had its target price increased by JPMorgan Chase & Co. from $165.00 to $200.00 in a report published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the information services provider’s stock.

A number of other analysts also recently commented on GOOGL. Truist Financial increased their price objective on shares of Alphabet from $158.00 to $170.00 and gave the company a buy rating in a report on Wednesday, April 17th. Stifel Nicolaus increased their price objective on shares of Alphabet from $174.00 to $196.00 and gave the company a buy rating in a report on Friday. Piper Sandler reiterated an overweight rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a report on Friday. Redburn Atlantic raised their price target on shares of Alphabet from $150.00 to $165.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Finally, Evercore ISI raised their price target on shares of Alphabet from $160.00 to $220.00 and gave the stock an outperform rating in a report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $189.44.

Alphabet Trading Down 3.4 %

Shares of Alphabet stock opened at $166.15 on Friday. The firm has a market capitalization of $2.07 trillion, a PE ratio of 25.48, a P/E/G ratio of 1.57 and a beta of 1.05. Alphabet has a twelve month low of $103.71 and a twelve month high of $174.71. The firm’s 50-day moving average price is $148.36 and its 200 day moving average price is $141.62. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the prior year, the firm earned $1.17 EPS. On average, sell-side analysts predict that Alphabet will post 6.82 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders 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 dividend yield of 0.48%.

Insider Transactions at Alphabet

In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction 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 sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. In the last three months, insiders sold 253,209 shares of company stock valued at $36,711,144. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GOOGL. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the fourth quarter valued at $30,000. Tributary Capital Management LLC acquired a new position in Alphabet in the first quarter valued at $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the fourth quarter valued at $38,000. Meritage Group LP increased its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the period. Finally, Macroview Investment Management LLC increased its stake in shares of Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.