Alphabet Inc. (NASDAQ:GOOG) Short Interest Update

Alphabet Inc. (NASDAQ:GOOG – Get Rating) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 30,190,000 shares, an increase of 5.7% from the February 13th total of 28,550,000 shares. Based on an average daily trading volume, of 29,460,000 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

Several analysts recently commented on GOOG shares. Sanford C. Bernstein set a $130.00 price target on shares of Alphabet in a report on Monday, February 6th. JPMorgan Chase & Co. set a $118.00 price target on shares of Alphabet in a report on Thursday, February 9th. Societe Generale decreased their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Bank of America raised their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Finally, Credit Suisse Group set a $136.00 price target on shares of Alphabet in a report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.13.

Insiders Place Their Bets

In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at $1,008,412. The disclosure for this sale can be found here. Insiders sold a total of 74,245 shares of company stock worth $7,174,078 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently modified their holdings of GOOG. OLD Second National Bank of Aurora increased its position in Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after acquiring an additional 247 shares during the period. Westchester Capital Management Inc. increased its position in Alphabet by 1,900.0% during the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after acquiring an additional 247 shares during the period. Corrado Advisors LLC bought a new position in Alphabet during the fourth quarter worth $27,000. Carolina Wealth Advisors LLC increased its position in Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares during the period. Finally, Saban Cheryl increased its position in Alphabet by 1,900.0% during the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after acquiring an additional 190 shares during the period. Institutional investors own 28.69% of the company’s stock.

Alphabet Trading Up 1.4 %

NASDAQ:GOOG opened at $102.46 on Friday. Alphabet has a 12 month low of $83.45 and a 12 month high of $144.16. The firm has a market cap of $1.31 trillion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 1.30 and a beta of 1.09. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $95.69 and its 200-day moving average is $96.82.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. During the same period in the prior year, the business earned $1.53 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Alphabet will post 5.12 EPS for the current year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.