Alphabet Inc (NASDAQ:GOOGL) Short Interest Update

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Alphabet Inc (NASDAQ:GOOGL) was the target of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 3,200,000 shares, a growth of 8.8% from the November 14th total of 2,940,000 shares. Based on an average trading volume of 1,345,100 shares, the short-interest ratio is currently 2.4 days. Currently, 1.1% of the company’s stock are sold short.

Alphabet stock traded down $1.62 during mid-day trading on Friday, hitting $1,346.87. The company had a trading volume of 1,328,343 shares, compared to its average volume of 1,240,010. The company has a current ratio of 3.78, a quick ratio of 3.75 and a debt-to-equity ratio of 0.07. Alphabet has a 12-month low of $977.66 and a 12-month high of $1,357.55. The company’s fifty day moving average is $1,303.80 and its 200-day moving average is $1,202.29. The company has a market capitalization of $930.03 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 1.65 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $12.42 by ($2.30). Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The company had revenue of $33.01 billion during the quarter, compared to analysts’ expectations of $32.84 billion. During the same quarter in the prior year, the company posted $13.06 EPS. As a group, sell-side analysts expect that Alphabet will post 49.03 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Resources Management Corp CT ADV acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $5,095,000. Princeton Global Asset Management LLC raised its stake in shares of Alphabet by 4.6% during the 3rd quarter. Princeton Global Asset Management LLC now owns 2,457 shares of the information services provider’s stock worth $2,964,000 after buying an additional 109 shares during the period. Metropolitan Life Insurance Co NY raised its stake in shares of Alphabet by 0.3% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 59,386 shares of the information services provider’s stock worth $72,519,000 after buying an additional 207 shares during the period. Man Group plc raised its stake in shares of Alphabet by 241.2% during the 3rd quarter. Man Group plc now owns 90,864 shares of the information services provider’s stock worth $110,957,000 after buying an additional 64,230 shares during the period. Finally, Michael & Susan Dell Foundation raised its stake in shares of Alphabet by 107.8% during the 3rd quarter. Michael & Susan Dell Foundation now owns 5,127 shares of the information services provider’s stock worth $6,261,000 after buying an additional 2,660 shares during the period. Institutional investors and hedge funds own 33.57% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. KeyCorp boosted their price target on Alphabet from $1,516.00 to $1,546.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Canaccord Genuity boosted their price target on Alphabet from $1,350.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Raymond James restated an “outperform” rating on shares of Alphabet in a research note on Wednesday, October 30th. Stifel Nicolaus upgraded Alphabet from a “hold” rating to a “buy” rating and upped their target price for the company from $1,325.00 to $1,525.00 in a research report on Thursday, December 5th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $1,400.00 target price on shares of Alphabet in a research report on Monday, October 28th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and thirty-five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $1,420.81.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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