Alphabet Inc. (NASDAQ:GOOGL) Short Interest Up 10.3% in March

Alphabet Inc. (NASDAQ:GOOGLGet Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 58,010,000 shares, a growth of 10.3% from the February 29th total of 52,600,000 shares. Based on an average daily trading volume, of 30,460,000 shares, the short-interest ratio is currently 1.9 days.

Alphabet Price Performance

Shares of GOOGL traded down $1.49 during trading hours on Tuesday, hitting $154.00. 14,827,919 shares of the company were exchanged, compared to its average volume of 30,925,445. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a fifty-two week low of $101.93 and a fifty-two week high of $155.74. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 1.39 and a beta of 1.05. The firm’s fifty day moving average is $143.95 and its 200 day moving average is $138.46.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period last year, the firm earned $1.05 EPS. On average, equities analysts anticipate that Alphabet will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays cut their price objective on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Wells Fargo & Company lifted their price objective on Alphabet from $141.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, March 18th. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Finally, Redburn Atlantic lifted their target price on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $155.48.

Read Our Latest Analysis on GOOGL

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $140.11, for a total value of $3,152,475.00. Following the completion of the transaction, the chief executive officer now owns 2,422,691 shares in the company, valued at approximately $339,443,236.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $140.11, for a total transaction of $3,152,475.00. Following the completion of the transaction, the chief executive officer now directly owns 2,422,691 shares in the company, valued at approximately $339,443,236.01. The disclosure for this sale can be found here. Insiders have sold 246,799 shares of company stock valued at $34,971,139 over the last three months. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. boosted its stake in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp raised its holdings in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after buying an additional 170,267,122 shares in the last quarter. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at about $15,441,917,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Company Profile

(Get Free Report)

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.

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