Alphabet’s (GOOG) Buy Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their buy rating on shares of Alphabet (NASDAQ:GOOG) in a report released on Monday morning.

A number of other research firms have also recently commented on GOOG. BidaskClub upgraded shares of Alphabet from a buy rating to a strong-buy rating in a research note on Thursday, July 26th. Raymond James reiterated an outperform rating and issued a $1,405.00 target price (up from $1,240.00) on shares of Alphabet in a research note on Tuesday, July 24th. Royal Bank of Canada lifted their target price on shares of Alphabet from $1,285.00 to $1,400.00 and gave the stock an outperform rating in a research note on Tuesday, July 24th. Robert W. Baird reiterated a buy rating on shares of Alphabet in a research note on Tuesday, July 24th. Finally, Wells Fargo & Co reiterated a buy rating on shares of Alphabet in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $1,301.81.

Shares of Alphabet stock opened at $1,037.61 on Monday. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. Alphabet has a 52-week low of $980.64 and a 52-week high of $1,273.89. The company has a market capitalization of $722.05 billion, a PE ratio of 23.35 and a beta of 1.16.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The firm had revenue of $27.16 billion for the quarter.

In other Alphabet news, CEO Sundar Pichai sold 10,000 shares of Alphabet stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $1,038.35, for a total transaction of $10,383,500.00. Following the completion of the sale, the chief executive officer now directly owns 519 shares in the company, valued at approximately $538,903.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 24 shares of Alphabet stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $1,206.20, for a total transaction of $28,948.80. Following the transaction, the director now directly owns 1,898 shares of the company’s stock, valued at $2,289,367.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,267 shares of company stock valued at $99,725,538. Company insiders own 13.11% of the company’s stock.

Large investors have recently bought and sold shares of the company. Braun Bostich & Associates Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $107,000. Ironwood Financial llc increased its holdings in Alphabet by 111.1% in the 3rd quarter. Ironwood Financial llc now owns 95 shares of the information services provider’s stock worth $113,000 after acquiring an additional 50 shares in the last quarter. Patton Albertson Miller Group LLC purchased a new stake in Alphabet in the 3rd quarter worth $116,000. JJJ Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter worth $134,000. Finally, ELM Advisors LLC purchased a new stake in Alphabet in the 3rd quarter worth $138,000. 33.96% of the stock is owned by hedge funds and other institutional investors.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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