Alphabet Inc. (NASDAQ:GOOGL) Experiences Notable Decline in Short Interest

Alphabet Inc. (NASDAQ:GOOGL) experienced a considerable drop in short interest during January. As of January 31st, the total short interest amounted to 60,150,000 shares, reflecting an 8.2% decline from the January 15th figure of 65,510,000 shares. With an average daily trading volume of 28,740,000 shares, the current short-interest ratio stands at 2.1 days.

Insider Transactions

In recent insider activity, chief accounting officer Amie Thuener O'toole sold 1,367 shares on December 2nd, receiving an average price of $170.41, totaling $232,950.47. Post-sale, she holds 23,515 shares valued at roughly $4,007,191.15, marking a 5.49% reduction in her shareholding. Additionally, insider John Kent Walker sold 16,820 shares on December 30th at an average price of $192.62, resulting in a transaction worth $3,239,868.40. After this sale, he owns 43,981 shares valued at $8,471,620.22, indicating a 27.66% decrease in his stake. In total, insiders offloaded 89,529 shares worth $16,600,078 over the past quarter, with insiders now owning 11.55% of the stock.

Institutional Investor Activity

Several hedge funds and institutional investors have recently adjusted their positions in Alphabet. For instance, Compass Planning Associates Inc acquired a new stake valued at roughly $30,000 in the fourth quarter. LMR Partners LLP bought shares worth $32,000 in the third quarter, while E Fund Management Hong Kong Co. Ltd. boosted its holdings by 518.8%, now owning 198 shares worth about $37,000 after a purchase of 166 additional shares. Fiduciary Advisors Inc also made a new investment worth $39,000 in the fourth quarter. Moreover, PayPay Securities Corp increased its stake by 36.1% during the same period, holding 245 shares valued at $46,000 post-purchase. Overall, institutional investors hold 40.03% of the stock.

Alphabet's Stock Overview

On the trading floor, NASDAQ GOOGL dropped by $0.91, reaching $185.23. The trading volume stood at 20,399,117 shares, lower than the average of 27,597,338 shares. The stock features a 50-day simple moving average of $192.85 and a 200-day simple moving average of $175.20. Alphabet has maintained a substantial market capitalization of $2.27 trillion, alongside a P/E ratio of 23.01 and a price-to-earnings-growth ratio of 1.39. The company recorded a 12-month low of $130.66 and a high of $207.05.

Recent Earnings Results

Alphabet recently reported its quarterly earnings on February 4th, posting earnings per share (EPS) of $2.15, which exceeded analysts' estimates of $2.12. The company boasts a return on equity of 32.49% and a net margin of 28.60%. Analysts project that Alphabet will achieve an EPS of 8.91 for the current year.

Dividend Announcement

A quarterly dividend has been announced, set to be paid on March 17th, with investors on record as of March 10th receiving $0.20 per share. This translates to an annualized dividend of $0.80 and a yield of 0.43%. The dividend payout ratio for Alphabet is currently 9.94%.

Analyst Projections

Wall Street analysts have issued updated ratings for GOOGL. Sanford C. Bernstein raised its target price from $180.00 to $185.00, rating the stock as "market perform." Piper Sandler lowered its target price from $210.00 to $208.00, maintaining an "overweight" rating. Roth MKM adjusted its target from $206.00 to $212.00, labeling it a "buy." Loop Capital also increased its target from $170.00 to $185.00 with a "hold" rating. Additionally, JPMorgan Chase & Co. modified its price target from $232.00 to $220.00 with an "overweight" rating. The consensus indicates ten analysts with a hold rating, twenty-nine suggesting a buy, and four issuing a strong buy. Current data reflects a moderate buy rating with an average target price of $210.62.

About Alphabet Inc.

Alphabet Inc. operates as a multinational conglomerate, providing a wide range of products and platforms globally. The company operates through various segments including Google Services, Google Cloud, and Other Bets. The Google Services segment encompasses products like ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Alphabet, Finance, Stocks