A company insider recently sold 1,500 shares of Alphabet Inc. [GOOG]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Alphabet Inc. shares valued at $165,000 were sold by HENNESSY JOHN L on Sep 09. At $110.00 per share, HENNESSY JOHN L sold 1,500 shares. The insider’s holdings dropped to 33,260 shares worth approximately $3.34 million following the completion of this transaction.

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Also, O’Toole Amie Thuener sold 855 shares, netting a total of over 93,323 in proceeds. Following the sale of shares at $109.15 each, the insider now holds 24,266 shares.

Before that, MATHER ANN had sold 280 shares from its account. In a trade valued at $32,242, the Director traded Alphabet Inc. shares for $115.15 each. Upon closing the transaction, the insider’s holdings decreased to 280 shares, worth approximately $1.15 million.

As published in a research note from MKM Partners on July 18, 2022, Alphabet Inc. [GOOG] has been retained to a Buy and the price target has been revised to $140. This represents a 28.16% premium over Thursday’s closing price. Analysts at Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in mid July. As of March 11, 2022, Deutsche Bank has initiated its “Buy” rating for GOOG. Earlier on February 02, 2022, Monness Crespi & Hardt resumed its rating. Their recommendation was “a Buy” for GOOG stock.

Analyzing GOOG’s Price Performance

On Thursday, Alphabet Inc. [NASDAQ: GOOG] rose 0.56% to $100.57. The stock’s lowest price that day was $99.41, but it reached a high of $101.68 in the same session. During the last five days, there has been a drop of approximately -3.21%. Over the course of the year, Alphabet Inc. shares have dropped approximately -30.49%. Shares of the company reached a 52-week high of $152.10 on 02/02/22 and a 52-week low of $99.41 on 09/22/22. A 50-day SMA is recorded $112.68, while a 200-day SMA reached $124.71. Nevertheless, trading volume fell to 21.17 million shares from 26.6 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 99.43, which, if violated, would cause prices to drop to 98.28. In the upper region, resistance lies at 101.70. The next price resistance is at 102.82. RSI (Relative Strength Index) is 31.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.25, which suggests the price will decrease in the coming days. Percent R is at 91.23%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Alphabet Inc. subject to short interest?

Stocks of Alphabet Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -7.54 million shares to 29.98 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 37.52 million shares. A decline of -25.15% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.94 of the overall float, the days-to-cover ratio (short ratio) decline to 0.94.

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

According to The Vanguard Group, Inc. filings, the company currently owns 402,568,740 shares, which is about 6.53% of the total GOOG shares outstanding. The investor’s shares have appreciated by 1,161,340 from its previous 13-F filing of 401407400.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $26,459,167,199. T. Rowe Price Associates, Inc. reduced a -10.36% interest valued at $23.75 billion while SSgA Funds Management, Inc. sold a -5,274,360 stake. A total of -10,957,480 shares of Alphabet Inc. were sold by Fidelity Management & Research Co during the quarter, and 1,787,520 were bought by Geode Capital Management LLC. In its current portfolio, Capital Research & Management Co holds 75,929,980 shares valued at $8.29 billion.

In terms of Alphabet Inc. share price expectations, FactSet research, analysts set an average price target of $141.76 in the next 12 months, up nearly 39.99% from the previous closing price of $100.01. Analysts anticipate Alphabet Inc. stock to reach $165.00 by 2022, with the lowest price target being $113.00. In spite of this, 48 analysts ranked Alphabet Inc. stock as a Buy at the end of 2022. On February 02, 2022, Cowen assigned a price target of “an Outperform” to the stock and reiterated coverage with a $3600.


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