JPMorgan Chase & Co. Issues Positive Forecast for Alphabet (NASDAQ:GOOGL) Stock Price

by · The Cerbat Gem

Alphabet (NASDAQ:GOOGL – Get Free Report) had its price target upped by JPMorgan Chase & Co. from $340.00 to $385.00 in a report released on Friday,MarketScreener reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.23% from the company’s current price.

Several other analysts also recently issued reports on the stock. Roth Capital boosted their target price on shares of Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. Susquehanna increased their price objective on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, October 30th. BMO Capital Markets set a $294.00 price objective on Alphabet and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Sanford C. Bernstein upped their target price on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.22.

View Our Latest Research Report on GOOGL

Alphabet Price Performance

GOOGL stock opened at $312.43 on Friday. Alphabet has a one year low of $140.53 and a one year high of $328.83. The firm has a 50-day moving average of $281.86 and a two-hundred day moving average of $228.20. The firm has a market capitalization of $3.77 trillion, a PE ratio of 30.81, a P/E/G ratio of 1.85 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. On average, analysts forecast that Alphabet will post 8.9 earnings per share for the current year.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 226,128 shares of company stock valued at $61,326,372. 11.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Several institutional investors have recently bought and sold shares of the stock. Bridgeway Capital Management LLC increased its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Alaethes Wealth LLC boosted its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares during the last quarter. Moment Partners LLC grew its stake in shares of Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares in the last quarter. Welch Group LLC increased its holdings in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after buying an additional 2,467 shares during the last quarter. Finally, Brooktree Capital Management bought a new stake in Alphabet during the second quarter worth $352,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Company Profile

(Get Free Report)

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.

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