Alphabet (NASDAQ:GOOGL) Price Target Lowered to $220.00 at JPMorgan Chase & Co.

Alphabet (NASDAQ:GOOGL) had its target price reduced by JPMorgan Chase & Co. from $232.00 to $220.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the information services provider’s stock.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Monday, January 27th. Finally, Bank of America reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.95.

Alphabet Price Performance

NASDAQ GOOGL opened at $191.33 on Wednesday. The company has a market cap of $2.34 trillion, a PE ratio of 25.38, a P/E/G ratio of 1.31 and a beta of 0.99. The firm’s 50 day moving average price is $190.39 and its 200-day moving average price is $174.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet has a 52-week low of $130.66 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Sell-side analysts forecast that Alphabet will post 8.02 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of hedge funds have recently modified their holdings of the business. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the 4th quarter worth $30,000. LMR Partners LLP purchased a new stake in shares of Alphabet in the third quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet during the fourth quarter worth about $39,000. Finally, PayPay Securities Corp boosted its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. 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.