Alphabet Target of Unusually High Options Trading (GOOG)

Alphabet Inc (NASDAQ:GOOG) saw unusually large options trading activity on Thursday. Stock traders purchased 19,546 call options on the company. This is an increase of 161% compared to the average daily volume of 7,489 call options.

GOOG has been the topic of several research reports. Aegis restated a “buy” rating and issued a $1,011.00 target price on shares of Alphabet in a report on Tuesday, January 31st. Robert W. Baird restated an “outperform” rating and issued a $960.00 target price on shares of Alphabet in a report on Thursday, February 9th. BMO Capital Markets restated an “outperform” rating and issued a $1,005.00 target price on shares of Alphabet in a report on Monday, March 27th. Nomura reiterated a “buy” rating and set a $985.00 price target on shares of Alphabet in a research note on Monday, May 1st. Finally, Cowen and Company reiterated an “outperform” rating and set a $1,050.00 price target on shares of Alphabet in a research note on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $971.77.

Alphabet (NASDAQ:GOOG) opened at 934.01 on Friday. The company has a 50-day moving average of $880.10 and a 200-day moving average of $821.47. The stock has a market cap of $646.10 billion, a P/E ratio of 31.56 and a beta of 0.94. Alphabet has a 52 week low of $663.28 and a 52 week high of $943.11.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.38 by $0.35. The firm had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $24.18 billion. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. Alphabet’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.50 EPS. On average, analysts predict that Alphabet will post $33.88 EPS for the current fiscal year.

In related news, Director L John Doerr sold 13,355 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $935.93, for a total transaction of $12,499,345.15. Following the completion of the sale, the director now owns 3,468 shares of the company’s stock, valued at $3,245,805.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $937.92, for a total transaction of $3,751,680.00. Following the sale, the chief executive officer now directly owns 1,830 shares of the company’s stock, valued at approximately $1,716,393.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,133 shares of company stock valued at $44,422,427. 13.92% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC acquired a new position in Alphabet during the third quarter valued at approximately $102,000. Mark Sheptoff Financial Planning LLC boosted its position in Alphabet by 0.7% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 136 shares of the information services provider’s stock valued at $112,000 after buying an additional 1 shares during the period. Empirical Finance LLC purchased a new position in shares of Alphabet during the fourth quarter valued at about $115,000. Founders Capital Management purchased a new position in shares of Alphabet during the first quarter valued at about $116,000. Finally, Quantbot Technologies LP boosted its position in shares of Alphabet by 550.0% in the first quarter. Quantbot Technologies LP now owns 143 shares of the information services provider’s stock valued at $118,000 after buying an additional 121 shares during the period. Institutional investors own 34.74% of the company’s stock.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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