Alphabet Inc (NASDAQ:GOOG) Sees Large Decline in Short Interest

Alphabet Inc (NASDAQ:GOOG) was the recipient of a significant drop in short interest during the month of November. As of November 29th, there was short interest totalling 3,090,000 shares, a drop of 11.7% from the November 14th total of 3,500,000 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average trading volume of 1,296,800 shares, the short-interest ratio is currently 2.4 days.

In other news, major shareholder Capitalg Lp sold 144,877 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $50.33, for a total transaction of $7,291,659.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 55 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $1,195.00, for a total transaction of $65,725.00. Following the transaction, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at approximately $463,660. The disclosure for this sale can be found here. Insiders have sold 232,137 shares of company stock valued at $119,053,686 in the last ninety days. Insiders own 12.99% of the company’s stock.

A number of large investors have recently bought and sold shares of GOOG. Vanguard Group Inc. grew its holdings in shares of Alphabet by 1.2% during the second quarter. Vanguard Group Inc. now owns 22,708,312 shares of the information services provider’s stock valued at $24,545,641,000 after buying an additional 259,979 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock valued at $21,839,988,000 after buying an additional 612,804 shares during the last quarter. State Street Corp grew its holdings in shares of Alphabet by 0.7% during the third quarter. State Street Corp now owns 11,764,670 shares of the information services provider’s stock valued at $14,341,133,000 after buying an additional 81,768 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Alphabet by 6.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 11,480,467 shares of the information services provider’s stock valued at $12,409,352,000 after buying an additional 674,924 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Alphabet by 0.8% during the second quarter. Northern Trust Corp now owns 4,199,889 shares of the information services provider’s stock valued at $4,539,702,000 after buying an additional 31,873 shares during the last quarter. Institutional investors and hedge funds own 33.82% of the company’s stock.

A number of brokerages recently weighed in on GOOG. Oppenheimer lifted their target price on shares of Alphabet from $1,370.00 to $1,530.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Mizuho lifted their target price on shares of Alphabet from $1,400.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. ValuEngine downgraded shares of Alphabet from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, October 29th. Finally, Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,412.00 target price for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $1,469.93.

NASDAQ:GOOG traded down $2.44 during trading hours on Friday, reaching $1,347.83. The company had a trading volume of 1,314,935 shares, compared to its average volume of 1,167,587. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. The firm has a market cap of $931.26 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 1.65 and a beta of 1.02. The business’s 50-day simple moving average is $1,304.99 and its two-hundred day simple moving average is $1,201.67. Alphabet has a twelve month low of $970.11 and a twelve month high of $1,359.45.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing analysts’ consensus estimates of $12.57 by ($2.45). The company had revenue of $40.50 billion during the quarter, compared to analyst estimates of $40.17 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $13.06 earnings per share. As a group, equities analysts predict that Alphabet will post 49.03 earnings per share for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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