Alphabet (GOOG) Receives “Neutral” Rating from JMP Securities

JMP Securities restated their neutral rating on shares of Alphabet (NASDAQ:GOOG) in a research report released on Friday.

Several other brokerages also recently weighed in on GOOG. Raymond James reaffirmed an outperform rating and set a $1,300.00 price target (down previously from $1,405.00) on shares of Alphabet in a report on Friday, October 26th. Atlantic Securities reaffirmed a buy rating on shares of Alphabet in a report on Tuesday, July 24th. Robert W. Baird reaffirmed a buy rating on shares of Alphabet in a report on Tuesday, July 24th. BidaskClub downgraded shares of Alphabet from a strong-buy rating to a buy rating in a report on Friday, August 3rd. Finally, JPMorgan Chase & Co. reaffirmed a buy rating on shares of Alphabet in a report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. Alphabet currently has an average rating of Buy and an average price target of $1,301.81.

Shares of GOOG traded down $12.21 on Friday, reaching $1,057.79. The company’s stock had a trading volume of 1,829,294 shares, compared to its average volume of 2,173,347. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. The company has a market cap of $736.16 billion, a price-to-earnings ratio of 23.80 and a beta of 1.16. Alphabet has a 12-month low of $980.64 and a 12-month high of $1,273.89.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. The company had revenue of $27.16 billion for the quarter. Alphabet had a net margin of 14.45% and a return on equity of 19.40%.

In other news, Director L John Doerr sold 10,262 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $1,218.20, for a total value of $12,501,168.40. Following the transaction, the director now owns 3,485 shares of the company’s stock, valued at $4,245,427. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David C. Drummond sold 5,690 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $1,244.09, for a total transaction of $7,078,872.10. Following the completion of the transaction, the senior vice president now directly owns 41,234 shares in the company, valued at approximately $51,298,807.06. The disclosure for this sale can be found here. Insiders sold 77,621 shares of company stock worth $91,928,242 in the last three months. Insiders own 13.11% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. increased its position in Alphabet by 0.8% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 50,342 shares of the information services provider’s stock worth $60,082,000 after purchasing an additional 400 shares during the last quarter. BP PLC increased its position in Alphabet by 5.8% in the third quarter. BP PLC now owns 40,100 shares of the information services provider’s stock worth $47,889,000 after purchasing an additional 2,200 shares during the last quarter. British Airways Pensions Investment Management Ltd increased its position in Alphabet by 11.0% in the third quarter. British Airways Pensions Investment Management Ltd now owns 21,468 shares of the information services provider’s stock worth $25,617,000 after purchasing an additional 2,136 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Alphabet in the third quarter worth $15,934,000. Finally, Stockman Wealth Management Inc. increased its position in Alphabet by 27.4% in the third quarter. Stockman Wealth Management Inc. now owns 307 shares of the information services provider’s stock worth $366,000 after purchasing an additional 66 shares during the last quarter. 34.16% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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