Alphabet (NASDAQ:GOOGL) Price Target Cut to $132.00 by Analysts at JMP Securities

Alphabet (NASDAQ:GOOGLGet Rating) had its target price lowered by investment analysts at JMP Securities from $145.00 to $132.00 in a report issued on Wednesday, The Fly reports. JMP Securities’ price objective points to a potential upside of 34.06% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Cowen cut their target price on shares of Alphabet to $135.00 in a research report on Thursday, October 27th. Bank of America cut their price target on shares of Alphabet from $125.00 to $114.00 and set a “buy” rating for the company in a research report on Tuesday, October 4th. Wells Fargo & Company cut their price target on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th. Itau BBA Securities initiated coverage on shares of Alphabet in a research report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 price target for the company. Finally, MKM Partners cut their price target on shares of Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.90.

Alphabet Stock Up 1.5 %

Shares of NASDAQ:GOOGL opened at $98.46 on Wednesday. Alphabet has a 52-week low of $83.34 and a 52-week high of $151.55. The firm has a fifty day moving average of $97.11 and a 200 day moving average of $107.37. The firm has a market capitalization of $1.27 trillion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. During the same quarter last year, the firm posted $1.40 earnings per share. As a group, research analysts anticipate that Alphabet will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 182,312 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average cost of $34.60 per share, with a total value of $6,307,995.20. Following the completion of the purchase, the insider now directly owns 1,294,527 shares in the company, valued at $44,790,634.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was acquired at an average price of $34.60 per share, with a total value of $6,307,995.20. Following the completion of the purchase, the insider now owns 1,294,527 shares of the company’s stock, valued at $44,790,634.20. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the transaction, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,461,702 shares of company stock valued at $36,999,217 and sold 302,441 shares valued at $20,007,551. 11.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dravo Bay LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $28,000. Financial Enhancement Group LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $31,000. Advocacy Wealth Management Services LLC grew its holdings in shares of Alphabet by 72.7% during the second quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after buying an additional 8 shares during the last quarter. Cardinal Capital Management Inc. purchased a new stake in shares of Alphabet during the second quarter valued at approximately $41,000. Finally, Cordant Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $56,000. Institutional investors own 1.88% of the company’s stock.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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