Alphabet Inc. (NASDAQ:GOOGL) Sees Significant Increase in Short Interest

Alphabet Inc. (NASDAQ:GOOGL) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 69,350,000 shares, an increase of 5.6% from the July 31st total of 65,680,000 shares. Based on an average daily volume of 24,770,000 shares, the short-interest ratio is presently 2.8 days.

Alphabet Stock Up 1.0 %

Shares of Alphabet stock traded up $1.60 on Monday, reaching $163.38. The company’s stock had a trading volume of 22,123,799 shares, compared to its average volume of 27,633,090. Alphabet has a 52 week low of $120.21 and a 52 week high of $191.75. The firm’s fifty day simple moving average is $173.44 and its two-hundred day simple moving average is $163.90. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the company earned $1.44 EPS. Equities analysts anticipate that Alphabet will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $196.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Citigroup boosted their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. TD Securities upped their target price on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, Morgan Stanley raised their price target on Alphabet from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $203.74.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Insiders have sold a total of 155,883 shares of company stock valued at $26,705,320 over the last quarter. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. Picton Mahoney Asset Management increased its holdings in Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares during the last quarter. Nebula Research & Development LLC bought a new position in Alphabet in the 4th quarter worth $787,000. New Hampshire Trust lifted its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Matisse Capital grew its holdings in Alphabet by 13.7% during the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock valued at $2,344,000 after purchasing an additional 2,026 shares during the period. Finally, Berkshire Money Management Inc. purchased a new stake in Alphabet in the first quarter worth about $359,000. 40.03% of the stock is currently owned by hedge funds and other 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.