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

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

GOOGL has been the topic of a number of other research reports. Roth Mkm cut their price target on Alphabet from $166.00 to $164.00 and set a buy rating on the stock in a research note on Wednesday, January 31st. Piper Sandler reissued an overweight rating and issued a $200.00 price target (up previously from $160.00) on shares of Alphabet in a research note on Friday. Truist Financial increased their price target on Alphabet from $158.00 to $170.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Canaccord Genuity Group increased their price target on Alphabet from $190.00 to $210.00 and gave the company a buy rating in a research note on Friday. Finally, Morgan Stanley increased their price target on Alphabet from $165.00 to $195.00 and gave the company an overweight rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $187.82.

Alphabet Stock Up 10.2 %

Shares of GOOGL opened at $171.95 on Friday. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The business’s fifty day moving average price is $147.85 and its two-hundred day moving average price is $141.39. Alphabet has a 52 week low of $103.54 and a 52 week high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same period last year, the company earned $1.05 EPS. On average, analysts predict that Alphabet will post 6.79 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock worth $36,746,578 in the last quarter. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the business. RWQ Financial Management Services Inc. grew its holdings in Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Ballast Advisors LLC boosted its holdings in shares of Alphabet by 9.6% during the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC boosted its holdings in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Alphabet by 2.4% during the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after acquiring an additional 104,366 shares during the period. Finally, NatWest Group plc boosted its holdings in shares of Alphabet by 239.0% during the fourth quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock worth $14,080,000 after acquiring an additional 71,057 shares during the period. Institutional investors own 40.03% of the company’s stock.

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.