JMP Securities Maintains Market Perform Rating for Alphabet (NASDAQ: GOOGL)

JMP Securities has reiterated its market perform rating on Alphabet Inc. (NASDAQ: GOOGL) in a research report delivered to investors on Monday morning, as reported by various financial news outlets.

Other analysts have also provided their input on the stock. For example, Piper Sandler has reaffirmed an "overweight" rating and adjusted its target price to $210.00, up from $200.00, in a report released on October 30. Additionally, Phillip Securities upgraded Alphabet to a "strong buy" in a note published on November 1. On December 12, The Goldman Sachs Group confirmed a "buy" rating, setting a price target of $210.00 for the shares. Bank of America also reiterated its "buy" rating and issued a price target of $210.00 on December 23. Furthermore, the Royal Bank of Canada increased its price target for the company from $204.00 to $210.00, granting the stock an "outperform" rating in its analysis on October 30. Currently, nine analysts have given the stock a hold rating, while thirty have rated it as a buy, and four have issued a strong buy rating. According to data from MarketBeat.com, the average rating stands at "Moderate Buy" with an average target price of approximately $209.82.

Alphabet Stock Performance

On Monday, shares of NASDAQ: GOOGL opened at $191.81. The company boasts a market cap of $2.35 trillion, a PE ratio of 25.44, and a price-to-earnings-growth ratio of 1.27, with a beta of 0.98. Over the past year, Alphabet's stock has seen a low of $130.66 and a high of $202.29. The firm maintains a debt-to-equity ratio of 0.04, along with both a quick ratio and current ratio of 1.95. The fifty-day moving average for the stock is $186.46, with a 200-day moving average of $173.57.

In its last quarterly report released on October 29, Alphabet reported earnings of $2.12 per share, exceeding analysts' expectations of $1.83 by $0.29. The company achieved a return on equity of 31.66% and a net margin of 27.74%. Revenue for the quarter reached $88.27 billion, significantly higher than the anticipated $72.85 billion. Comparatively, the firm reported earnings of $1.55 per share in the same quarter the previous year. Analysts project that Alphabet will post earnings of $8.02 per share for the current fiscal year.

Insider Activity

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock on December 30 at an average price of $192.62, totaling approximately $3,239,868.40. Following this transaction, Walker retains ownership of 43,981 shares valued at about $8,471,620.22, representing a 27.66% reduction in his stake. Additionally, Chief Accounting Officer Amie Thuener O’toole sold 1,367 shares on November 1 at an average price of $171.42, resulting in proceeds of $234,331.14. After this sale, she owns 26,349 shares worth roughly $4,516,745.58, indicating a 4.93% decrease in ownership. Over the last quarter, insiders have sold a total of 133,387 shares valued at $24,368,654, and they currently hold 11.55% of Alphabet's stock.

Institutional Investor Movements

Several hedge funds and institutional investors have recently adjusted their positions in Alphabet. Schear Investment Advisers LLC increased its stake by 17.0% during the third quarter, acquiring an additional 4,905 shares for a total of 33,751 shares valued at $5,598,000. Trinity Financial Advisors LLC grew its position by 4.5%, now holding 4,423 shares valued at $771,000 after adding 190 shares. Similarly, Landscape Capital Management L.L.C. raised its holdings by 27.9%, now owning 25,275 shares worth around $4,192,000 after buying 5,516 additional shares. abrdn plc uplifted its stake in Alphabet by 10.7% during the same period, owning 6,305,717 shares valued at over $1 billion following a purchase of 611,233 shares. Furthermore, StoneCrest Wealth Management Inc. increased its stake in Alphabet by 0.7%, now possessing 21,509 shares worth $3,567,000 after acquiring an additional 140 shares. 40.03% of Alphabet's stock is owned by institutional investors.

About Alphabet Inc.

Alphabet Inc. operates numerous products and platforms across various regions, including the U.S., Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. The company comprises segments such as Google Services, Google Cloud, and Other Bets. Google Services offers a range of products and services, including Advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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