Alphabet Inc. (NASDAQ:GOOG) Sees Significant Decrease in Short Interest

Alphabet Inc. (NASDAQ:GOOGGet Free Report) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 37,690,000 shares, a decrease of 9.2% from the December 15th total of 41,500,000 shares. Based on an average trading volume of 22,080,000 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOG. Raymond James assumed coverage on Alphabet in a report on Wednesday, December 20th. They issued an “outperform” rating and a $150.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and set a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $132.43.

View Our Latest Stock Analysis on Alphabet

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $129.08, for a total value of $54,859.00. Following the transaction, the chief accounting officer now directly owns 26,413 shares in the company, valued at approximately $3,409,390.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Frances Arnold sold 250 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $124.36, for a total value of $31,090.00. Following the transaction, the director now directly owns 14,226 shares in the company, valued at approximately $1,769,145.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $129.08, for a total value of $54,859.00. Following the completion of the transaction, the chief accounting officer now owns 26,413 shares in the company, valued at $3,409,390.04. The disclosure for this sale can be found here. Insiders sold 189,719 shares of company stock worth $25,983,525 over the last three months. 12.99% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Financial Advisors Network Inc. grew its position in shares of Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. boosted its position in Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the period. West Michigan Advisors LLC boosted its position in Alphabet by 3.7% during the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the period. Somerville Kurt F boosted its position in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its position in Alphabet by 1.4% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 27.13% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $142.89 on Thursday. Alphabet has a fifty-two week low of $88.86 and a fifty-two week high of $146.66. The business has a 50 day moving average price of $138.24 and a two-hundred day moving average price of $133.72. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.79 trillion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.29 and a beta of 1.06.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The firm had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. Sell-side analysts expect that Alphabet will post 5.83 earnings per share for the current fiscal year.

About Alphabet

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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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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