Short Interest in Alphabet Inc. (NASDAQ:GOOGL) Increases By 36.7%


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Alphabet Inc. (NASDAQ:GOOGL) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 4,170,000 shares, an increase of 36.7% from the March 31st total of 3,050,000 shares. Based on an average daily volume of 1,710,000 shares, the days-to-cover ratio is currently 2.4 days.

Several research firms have recently issued reports on GOOGL. Pivotal Research reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 3rd. Mizuho boosted their target price on Alphabet from $2,600.00 to $2,800.00 and gave the stock a “buy” rating in a research note on Monday. Wedbush raised their price objective on shares of Alphabet from $2,953.00 to $3,127.00 and gave the stock an “outperform” rating in a report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 3rd. Finally, Wolfe Research initiated coverage on shares of Alphabet in a research report on Thursday, April 1st. They issued an “outperform” rating and a $2,450.00 price target for the company. One analyst has rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $2,473.33.

Institutional investors and hedge funds have recently made changes to their positions in the company. Kinloch Capital LLC acquired a new position in Alphabet during the 4th quarter worth $28,000. Resolute Partners Group acquired a new stake in Alphabet in the fourth quarter worth about $28,000. ForthRight Wealth Management LLC acquired a new position in Alphabet during the 4th quarter valued at about $32,000. Cowa LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Finally, Cypress Point Wealth Management LLC acquired a new stake in Alphabet during the 4th quarter worth $39,000. 33.79% of the stock is currently owned by institutional investors and hedge funds.

Alphabet stock traded down $49.15 during trading hours on Tuesday, hitting $2,293.93. The stock had a trading volume of 26,202 shares, compared to its average volume of 1,781,547. Alphabet has a fifty-two week low of $1,296.01 and a fifty-two week high of $2,431.38. The company has a market cap of $1.55 trillion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. The company has a 50-day moving average of $2,185.49 and a two-hundred day moving average of $1,918.57. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $15.82 by $10.47. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. During the same quarter in the prior year, the company earned $9.87 EPS. As a group, analysts forecast that Alphabet will post 52.19 EPS for the current fiscal year.

About Alphabet

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

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