ForecastsStocks and Indices Forecast
Alphabet Inc. (NASDAQ:GOOGL) Buying Opportunity
Alphabet Inc. (NASDAQ:GOOGL) Buying Opportunity
Marketbeat reports:
Saddle Point Management L.P. bought a new position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,652 shares of the information services provider’s stock, valued at approximately $254,000. Alphabet comprises approximately 8.8% of Saddle Point Management L.P.’s holdings, making the stock its 7th largest holding.
Other large investors have also recently made changes to their positions in the company. Spreng Capital Management Inc. increased its position in shares of Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. increased its position in shares of Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the last quarter. Maple Capital Management Inc. increased its position in shares of Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares during the last quarter. Private Advisory Group LLC increased its position in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares during the last quarter. Finally, Weik Capital Management increased its position in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
GOOGL has been the topic of a number of recent analyst reports. Loop Capital increased their price objective on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Morgan Stanley increased their target price on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Barclays increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. MKM Partners increased their target price on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Finally, Rosenblatt Securities dropped their target price on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.
Insider Buying and Selling at Alphabet
In other Alphabet news, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last three months, insiders sold 36,745 shares of company stock worth $3,424,078. 11.44% of the stock is owned by corporate insiders.
Technical Overview and Our Trade Idea
Strong Support Zone: 83.00 $ – 86.00 $
Closing Price: 90.90 $
Cycle Sniper Bullish Deviation on Daily but headed south.
Buy: If the price tests and holds the support.
Strong Buy: When the price breaks and closes above 97.00 $
Targets: 100$, 106$, 115$, 122$.
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