Alphabet Inc. (NASDAQ:GOOGL) Short Interest Down 10.7% in September

Alphabet Inc. (NASDAQ:GOOGL) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 71,090,000 shares, a drop of 10.7% from the September 15th total of 79,580,000 shares. Based on an average trading volume of 25,620,000 shares, the days-to-cover ratio is currently 2.8 days.

Analysts Set New Price Targets

Several research analysts recently commented on the company. TD Securities raised their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets decreased their price target on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Bank of America increased their price objective on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Performance

Shares of Alphabet stock traded down $0.30 during trading on Wednesday, hitting $165.16. 16,389,323 shares of the stock were exchanged, compared to its average volume of 27,085,760. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $161.76 and a 200-day moving average price of $168.05. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. As a group, equities analysts predict that Alphabet will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last quarter. 11.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

Large investors have recently modified their holdings of the stock. Scarborough Advisors LLC boosted its stake in shares of Alphabet by 6.5% in the fourth quarter. Scarborough Advisors LLC now owns 2,726 shares of the information services provider’s stock valued at $381,000 after buying an additional 167 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Alphabet by 3.3% during 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 buying an additional 1,429,261 shares in the last quarter. Alamar Capital Management LLC lifted its position in shares of Alphabet by 14.5% during the 4th quarter. Alamar Capital Management LLC now owns 3,160 shares of the information services provider’s stock worth $441,000 after buying an additional 400 shares during the last quarter. Willner & Heller LLC acquired a new stake in Alphabet in the fourth quarter valued at about $1,513,000. Finally, SageView Advisory Group LLC boosted its stake in Alphabet by 55.3% in the fourth quarter. SageView Advisory Group LLC now owns 48,893 shares of the information services provider’s stock valued at $7,405,000 after buying an additional 17,419 shares in the last quarter. 40.03% of the stock is owned by 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.