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

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

Other research analysts also recently issued reports about the stock. Jefferies Financial Group lifted their target price on shares of Alphabet from $175.00 to $180.00 and gave the stock a buy rating in a research report on Friday, April 19th. Evercore ISI lifted their target price on shares of Alphabet from $160.00 to $220.00 and gave the stock an outperform rating in a research report on Friday. Needham & Company LLC lifted their target price on shares of Alphabet from $160.00 to $210.00 and gave the stock a buy rating in a research report on Friday. Mizuho lifted their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a research report on Friday. Finally, Robert W. Baird lifted their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an outperform rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $189.44.

Alphabet Stock Down 3.4 %

NASDAQ GOOGL opened at $166.15 on Friday. 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’s 50 day simple moving average is $148.36 and its 200 day simple moving average is $141.62. Alphabet has a 12 month low of $103.71 and a 12 month high of $174.71. The company has a market capitalization of $2.07 trillion, a P/E ratio of 25.48, a PEG ratio of 1.57 and a beta of 1.05.

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

Alphabet Announces Dividend

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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s 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 transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,209 shares of company stock worth $36,711,144. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

Several large investors have recently bought and sold shares of the stock. M. Kraus & Co increased its stake in Alphabet by 1.1% in the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after purchasing an additional 66 shares during the period. Wynn Capital LLC increased its stake in Alphabet by 3.9% in the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after purchasing an additional 67 shares during the period. Aire Advisors LLC increased its stake in Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after purchasing an additional 68 shares during the period. Henrickson Nauta Wealth Advisors Inc. increased its stake in Alphabet by 2.1% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after purchasing an additional 68 shares during the period. Finally, Fiduciary Planning LLC increased its stake in Alphabet by 0.7% in the 1st quarter. Fiduciary Planning LLC now owns 9,219 shares of the information services provider’s stock worth $1,391,000 after purchasing an additional 68 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.