Alphabet Target of Unusually High Options Trading (GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) saw some unusual options trading on Monday. Traders acquired 5,002 put options on the company. This represents an increase of 498% compared to the typical daily volume of 836 put options.

Shares of Alphabet (NASDAQ:GOOGL) opened at 958.62 on Friday. Alphabet has a one year low of $672.66 and a one year high of $1,008.61. The company’s 50-day moving average is $967.45 and its 200-day moving average is $868.27. The company has a market capitalization of $663.12 billion, a PE ratio of 32.39 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last announced its 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 $7.24 by $0.49. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The company had revenue of $20.12 billion during the quarter, compared to the consensus estimate of $19.65 billion. During the same period in the previous year, the firm posted $7.50 earnings per share. Equities analysts predict that Alphabet will post $33.98 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. increased its stake in Alphabet by 18.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 142,393 shares of the information services provider’s stock worth $114,491,000 after buying an additional 22,074 shares during the period. Cable Hill Partners LLC increased its stake in Alphabet by 5.5% in the third quarter. Cable Hill Partners LLC now owns 367 shares of the information services provider’s stock worth $295,000 after buying an additional 19 shares during the period. Mosaic Family Wealth LLC increased its stake in Alphabet by 8.1% in the third quarter. Mosaic Family Wealth LLC now owns 346 shares of the information services provider’s stock worth $278,000 after buying an additional 26 shares during the period. Gardiner Nancy B increased its stake in Alphabet by 29.7% in the third quarter. Gardiner Nancy B now owns 1,178 shares of the information services provider’s stock worth $947,000 after buying an additional 270 shares during the period. Finally, Dempze Nancy E increased its stake in Alphabet by 7.5% in the third quarter. Dempze Nancy E now owns 1,875 shares of the information services provider’s stock worth $1,508,000 after buying an additional 131 shares during the period. 34.72% of the stock is owned by institutional investors and hedge funds.

GOOGL has been the topic of a number of research analyst reports. Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and lifted their target price for the stock from $967.93 to $1,000.00 in a research report on Thursday. Moffett Nathanson reiterated a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 target price on the stock in a research report on Monday, June 5th. Instinet reiterated a “buy” rating on shares of Alphabet in a research report on Friday, June 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $1,050.00 target price on shares of Alphabet in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,011.53.

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Alphabet Company Profile

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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