Sunday, June 26, 2022

Director HENNESSY JOHN L sold 42 shares of Alphabet Inc. [GOOG]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Alphabet Inc. shares valued at $98,566 were sold by HENNESSY JOHN L on Jun 09. At $2346.81 per share, HENNESSY JOHN L sold 42 shares. The insider’s holdings dropped to 1,927 shares worth approximately $4.32 million following the completion of this transaction.

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Also, HENNESSY JOHN L sold 33 shares, netting a total of over 77,497 in proceeds. Following the sale of shares at $2348.39 each, the insider now holds 78 shares.

Before that, O’Toole Amie Thuener had sold 42 shares from its account. In a trade valued at $96,542, the VP, Chief Accounting Officer traded Alphabet Inc. shares for $2298.63 each. Upon closing the transaction, the insider’s holdings decreased to 42 shares, worth approximately $2.65 million.

As published in their initiating research note from Deutsche Bank on March 11, 2022, Alphabet Inc. [GOOG] has been a Buy and the price target has been revised to $3150. This represents a 28.87% premium over Wednesday’s closing price. Analysts at Monness Crespi & Hardt resumed the stock at ‘”a Buy”‘ outlook in a report released in early February. As of February 02, 2022, Cowen has reiterated its “an Outperform” rating for GOOG. Earlier on February 02, 2022, Canaccord Genuity resumed its rating. Their recommendation was “a Buy” for GOOG stock.

Analyzing GOOG’s Price Performance

On Wednesday, Alphabet Inc. [NASDAQ: GOOG] rose 0.02% to $2240.68. The stock’s lowest price that day was $2,214.486, but it reached a high of $2,275.39 in the same session. During the last five days, there has been a surge of approximately 4.52%. Over the course of the year, Alphabet Inc. shares have dropped approximately -22.56%. Shares of the company reached a 52-week high of $3,042.00 on 02/02/22 and a 52-week low of $2,044.16 on 05/24/22. A 50-day SMA is recorded $2,324.21, while a 200-day SMA reached $2,686.72. Nevertheless, trading volume fell to 1.19 million shares from 1.95 million shares the previous day.

Support And Resistance Levels for Alphabet Inc. (GOOG)

According to the 24-hour chart, there is a support level at 2,211.65, which, if violated, would cause prices to drop to 2,182.61. In the upper region, resistance lies at 2,272.55. The next price resistance is at 2,304.42. RSI (Relative Strength Index) is 48.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -34.59, which suggests the price will decrease in the coming days. Percent R is at 53.48%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Alphabet Inc. subject to short interest?

Stocks of Alphabet Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.34 million shares to 1.74 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 1.4 million shares. A jump of 19.54% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.24 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.24.

Which companies own the most shares of Alphabet Inc. (GOOG)?

According to The Vanguard Group, Inc. filings, the company currently owns 20,070,370 shares, which is about 6.41% of the total GOOG shares outstanding. The investor’s shares have appreciated by 198,629 from its previous 13-F filing of 19871741.0 shares. With the completion of the sale, BlackRock Fund Advisors’s stake is now worth $28,101,850,743. T. Rowe Price Associates, Inc. reduced a -8.93% interest valued at $27.68 billion while SSgA Funds Management, Inc. sold a -256,035 stake. A total of -153,487 shares of Alphabet Inc. were sold by Fidelity Management & Research Co during the quarter, and 102,220 were bought by Geode Capital Management LLC. In its current portfolio, Capital Research & Management Co holds 3,875,946 shares valued at $8.84 billion.

In terms of Alphabet Inc. share price expectations, FactSet research, analysts set an average price target of $3221.89 in the next 12 months, up nearly 42.84% from the previous closing price of $2240.30. Analysts anticipate Alphabet Inc. stock to reach $4533.34 by 2022, with the lowest price target being $2636.00. In spite of this, 48 analysts ranked Alphabet Inc. stock as a Buy at the end of 2022. On October 01, 2021, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and initiated coverage with a $3400.

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