Alphabet Inc. (NASDAQ:GOOGL – Get Free Report) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 71,090,000 shares, a decline of 10.7% from the September 15th total of 79,580,000 shares. Based on an average daily volume of 25,620,000 shares, the short-interest ratio is presently 2.8 days.
Analysts Set New Price Targets
Several brokerages have issued reports on GOOGL. Truist Financial boosted their price target on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Monday, October 7th. Evercore ISI reduced their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, TD Securities increased their price objective on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $201.76.
Get Our Latest Research Report on Alphabet
Insider Buying and Selling
Institutional Investors Weigh In On Alphabet
Several large investors have recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its holdings in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares during the period. Capital Research Global Investors raised its stake in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Bank of New York Mellon Corp lifted its holdings in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Alphabet by 3.3% in the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after purchasing an additional 1,429,261 shares during the period. Finally, Capital World Investors increased its position in shares of Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after buying an additional 597,756 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Alphabet Stock Performance
GOOGL traded down $0.30 during midday trading on Wednesday, reaching $165.16. The company had a trading volume of 16,389,323 shares, compared to its average volume of 27,085,760. Alphabet has a 12-month low of $120.21 and a 12-month high of $191.75. The business has a 50-day moving average price of $161.76 and a two-hundred day moving average price of $168.05. The stock has a market cap of $2.04 trillion, a PE ratio of 25.33, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. On average, sell-side analysts expect that Alphabet will post 7.64 earnings per share for the current fiscal year.
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.
Read More
- Five stocks we like better than Alphabet
- Why Are These Companies Considered Blue Chips?
- Taiwan Semiconductor Stock: Buy Now or Wait for Earnings?
- What is the FTSE 100 index?
- Abbott’s Growth and Dividends Make It a Smart Portfolio Pick
- Using the MarketBeat Stock Split Calculator
- Citigroup Faces Growing Troubles: Could the Industry Be at Risk?
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.