Alphabet (NASDAQ:GOOGL) Given New $208.00 Price Target at JPMorgan Chase & Co.

Alphabet (NASDAQ:GOOGL) had its target price upped by JPMorgan Chase & Co. from $200.00 to $208.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

A number of other research firms also recently issued reports on GOOGL. UBS Group increased their price objective on Alphabet from $150.00 to $166.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Stifel Nicolaus reiterated a buy rating and issued a $196.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Loop Capital reiterated a hold rating and issued a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Citigroup increased their price objective on Alphabet from $168.00 to $190.00 and gave the stock a buy rating in a report on Friday, April 26th. Finally, TD Cowen increased their price objective on Alphabet from $170.00 to $200.00 and gave the stock a buy rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $203.74.

Alphabet Stock Performance

Shares of GOOGL stock opened at $167.00 on Wednesday. The stock has a fifty day moving average of $179.04 and a 200 day moving average of $160.48. Alphabet has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.25 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the firm posted $1.44 earnings per share. As a group, research analysts expect that Alphabet will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 12.27%.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The disclosure for this sale can be found here. Insiders have sold a total of 122,388 shares of company stock valued at $21,497,609 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GOOGL. RWQ Financial Management Services Inc. increased its stake in Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after acquiring an additional 4,664 shares during the last quarter. Picton Mahoney Asset Management increased its stake in Alphabet by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after acquiring an additional 76,410 shares during the last quarter. Robbins Farley increased its stake in Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after acquiring an additional 118 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Alphabet during the fourth quarter worth $787,000. Finally, CKW Financial Group boosted its stake in Alphabet by 5.8% during the first quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after buying an additional 760 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

About Alphabet

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.