Alphabet Inc. (NASDAQ:GOOGL) Short Interest Up 41.0% in April

Alphabet Inc. (NASDAQ:GOOGL – Get a rating) recorded a significant increase in short-term interest in the month of April. As of April 30, there was short interest totaling 2,510,000 shares, an increase of 41.0% from the April 15 total of 1,780,000 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average trading volume of 1,840,000 shares, the short interest ratio is currently 1.4 days.

In other news, 2016 major shareholder Gp LLC Gv sold 544,249 shares of the company in a deal that took place on Monday, April 11. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The sale was disclosed in a filing with the Securities & Exchange Commission, available via this link. Also, director Brin Sergei sold 2,639 shares of the company in a transaction that took place on Monday, April 11. The stock was sold at an average price of $2,632.28, for a total value of $6,946,586.92. Following the transaction, the director now owns 18,599,842 shares of the company, valued at $48,959,992,099.76. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 550,261 shares of the company valued at $21,637,779. 13.20% of the shares are currently held by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Oxbow Advisors LLC increased its stake in Alphabet shares by 0.7% in Q3. Oxbow Advisors LLC now owns 588 shares of the information services provider valued at $1,572,000 after purchasing 4 additional shares during the period. Wagner Wealth Management LLC increased its stake in Alphabet by 4.5% during the third quarter. Wagner Wealth Management LLC now owns 92 shares of the information services provider worth $272,000 after buying 4 additional shares in the last quarter. Boltwood Capital Management increased its stake in Alphabet by 0.3% during the fourth quarter. Boltwood Capital Management now owns 1,333 shares of the information services provider valued at $3,862,000 after buying 4 more shares in the last quarter. Latitude Advisors LLC increased its stake in Alphabet by 0.4% during the fourth quarter. Latitude Advisors LLC now owns 1,108 shares of the information services provider valued at $3,210,000 after buying 4 additional shares in the last quarter. Finally, Brave Asset Management Inc. increased its stake in Alphabet by 0.6% during the fourth quarter. Brave Asset Management Inc. now owns 628 shares of the information services provider valued at $1,819,000 after buying 4 additional shares in the last quarter. 41.70% of the shares are held by hedge funds and other institutional investors.

GOOGL has been the subject of a number of research analyst reports. Sanford C. Bernstein raised its price target on Alphabet from $3,250.00 to $3,500.00 and gave the stock an “outperform” rating in a Wednesday, Feb. 2 research report. Wells Fargo & Company reduced its target price on Alphabet from $3,600.00 to $3,400.00 in a Wednesday, April 27 research report. Evercore ISI lowered its price target on Alphabet from $3,500.00 to $3,300.00 and set an “outperform” rating on the stock in a Wednesday, April 27 report. Royal Bank of Canada raised its price target on Alphabet from $3,400.00 to $3,500.00 and gave the company an “outperform” rating in a Wednesday, Feb. 2 report. Finally, Susquehanna raised its price target on Alphabet from $3,600.00 to $3,750.00 and gave the company a “positive” rating in a Wednesday, February 2 report. Four equity research analysts gave the stock a hold rating, thirty-four gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $3,314.08.

NASDAQ:GOOGL traded $64.13 in Friday’s midday session, hitting $2,321.01. The company’s shares had a trading volume of 1,748,103 shares, compared to its average volume of 2,107,318. The company has a market capitalization of $1.53 trillion, a price-earnings ratio of 20.99 , a P/E/G ratio of 1.05 and a beta of 1.13. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt ratio of 0.06. The stock has a fifty-day moving average of $2,570.32 and a 200-day moving average of $2,732.23. Alphabet has a fifty-two week low of $2,196.49 and a fifty-two week high of $3,030.93.

Alphabet shares will split on the morning of Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be distributed to shareholders after market close on Friday July 15.

Alphabet (NASDAQ:GOOGL – Get a rating) last released its quarterly earnings data on Tuesday, April 26. The information services provider reported earnings per share (EPS) of $24.62 for the quarter, missing analyst consensus estimates of $25.51 per ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. In the same quarter a year earlier, the company posted earnings per share of $26.29. On average, stock analysts expect Alphabet to post earnings per share of 112.62 for the current fiscal year.

About the alphabet (Get a rating)

Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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