Alphabet’s (GOOGL) “Market Outperform” Rating Reiterated at Citizens Jmp

Alphabet (NASDAQ:GOOGL)‘s stock had its “market outperform” rating reiterated by research analysts at Citizens Jmp in a report issued on Wednesday,Benzinga reports. They currently have a $515.00 price target on the information services provider’s stock. Citizens Jmp’s price objective suggests a potential upside of 48.31% from the company’s current price.

Several other analysts also recently issued reports on GOOGL. Zacks Research upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Morgan Stanley restated an “overweight” rating and set a $415.00 price objective (up from $375.00) on shares of Alphabet in a research note on Tuesday, June 30th. Oppenheimer upped their target price on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Loop Capital increased their target price on Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada set a $425.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $414.54.

Alphabet Trading Up 0.0%

GOOGL traded up $0.09 during trading on Wednesday, hitting $347.24. 7,518,084 shares of the company’s stock were exchanged, compared to its average volume of 32,011,309. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet has a 1 year low of $187.82 and a 1 year high of $408.61. The stock has a 50 day moving average price of $367.35 and a 200 day moving average price of $338.65. The firm has a market cap of $4.21 trillion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 1.46 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, analysts expect that Alphabet will post 14.33 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. This represents a 41.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 159,415 shares of company stock valued at $7,672,279. 11.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently made changes to their positions in GOOGL. Processus Wealth & Capital Management LLC boosted its stake in shares of Alphabet by 1.0% during the 2nd quarter. Processus Wealth & Capital Management LLC now owns 20,509 shares of the information services provider’s stock valued at $7,329,000 after buying an additional 198 shares during the last quarter. First Community Trust NA grew its position in shares of Alphabet by 1.6% during the second quarter. First Community Trust NA now owns 18,694 shares of the information services provider’s stock worth $6,681,000 after buying an additional 297 shares in the last quarter. Walker Asset Management LLC increased its stake in shares of Alphabet by 1.1% in the second quarter. Walker Asset Management LLC now owns 3,070 shares of the information services provider’s stock worth $1,097,000 after buying an additional 32 shares during the last quarter. Lee Kelleher & Klein Wealth Management bought a new stake in shares of Alphabet in the second quarter worth $302,000. Finally, Buska Wealth Management LLC raised its holdings in Alphabet by 5.7% in the second quarter. Buska Wealth Management LLC now owns 875 shares of the information services provider’s stock valued at $313,000 after acquiring an additional 47 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s upcoming Q2 results are expected to be a major test of the AI trade, with analysts looking for another earnings beat and continued strength in Search and Cloud. Can Strong Search and Cloud Growth Drive GOOGL’s Q2 Earnings?
• Positive Sentiment: Reports that Alphabet is developing a new AI chip, “Frozen v2,” boosted sentiment by suggesting lower AI costs and better Gemini performance. Why is Alphabet stock gaining today?
• Neutral Sentiment: Wall Street price targets still imply meaningful upside, but the forecast is only as good as future earnings revisions and execution. Wall Street Analysts Think Alphabet (GOOGL) Could Surge 25.12%
• Negative Sentiment: Investors are wary that Alphabet’s heavy AI spending, delayed Gemini rollout, and large capital commitments may pressure margins if monetization doesn’t accelerate. Alphabet’s Gemini delay, spending worries loom over earnings

About Alphabet

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.