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 $3,541,763 were sold by Pichai Sundar on Apr 17 ’24. At $157.41 per share, Pichai Sundar sold 22,500 shares. The insider’s holdings dropped to 2,303,011 shares worth approximately $371.02 million following the completion of this transaction.
Also, HENNESSY JOHN L sold 800 shares, netting a total of over 127,648 in proceeds. Following the sale of shares at $159.56 each, the insider now holds 7,991 shares.
Before that, Pichai Sundar had sold 22,500 shares from its account. In a trade valued at $3,502,640, the Chief Executive Officer traded Alphabet Inc shares for $155.67 each. Upon closing the transaction, the insider’s holdings decreased to 22,500 shares, worth approximately $374.64 million.
As published in a research note from Oppenheimer on April 08, 2024, Alphabet Inc [GOOG] has been retained to an Outperform and the price target has been revised to $185. As of January 31, 2023, BofA Securities has reiterated its “Buy” rating for GOOG. Earlier on October 11, 2022, Credit Suisse resumed its rating. Their recommendation was “an Outperform” for GOOG stock.
Analyzing GOOG Stock Performance
During the last five days, there has been a surge of approximately 2.69%. Over the course of the year, Alphabet Inc shares have jumped approximately 14.31%. Shares of the company reached a 52-week high of $161.70 on 04/12/24 and a 52-week low of $131.55 on 03/05/24. A 50-day SMA is recorded $148.19, while a 200-day SMA reached $138.86. Nevertheless, trading volume fell to 19.0 million shares from 16.12 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 159.48, which, if violated, would cause prices to drop to 157.87. In the upper region, resistance lies at 162.05. The next price resistance is at 163.01. RSI (Relative Strength Index) is 65.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.00, which suggests the price will increase in the coming days. Percent R is at 5.65%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
