Stock Mover of the Day: What’s Propelling Alphabet Inc to Reach Record High?

Stock Mover of the Day: What's Propelling Alphabet Inc to Reach Record High?

The stock of Alphabet Inc (NASDAQ:GOOG) reached all time high today, Oct, 18 and still has $1028.72 target or 30.00% above today’s $791.32 share price. This indicates more upside for the $554.24B company. This technical setup was reported by Barchart.com. If the $1028.72 PT is reached, the company will be worth $166.27B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 504,620 shares traded hands. Alphabet Inc (NASDAQ:GOOG) has risen 7.09% since March 15, 2016 and is uptrending. It has outperformed by 1.60% the S&P500.

Analysts await Alphabet Inc (NASDAQ:GOOG) to report earnings on October, 27.

Alphabet Inc (NASDAQ:GOOG) Ratings Coverage

Out of 28 analysts covering Google Inc. (NASDAQ:GOOG), 24 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 86% are positive. Google Inc. has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Friday, October 23 by RBC Capital Markets. Morgan Stanley upgraded it to “Overweight” rating and $820 target price in Wednesday, August 12 report. Citigroup maintained it with “Buy” rating and $781 target price in Thursday, September 24 report. The stock of Alphabet Inc (NASDAQ:GOOG) has “Overweight” rating given on Wednesday, August 19 by Atlantic Securities. The firm has “Buy” rating given on Friday, October 23 by UBS. The company was maintained on Friday, October 23 by Piper Jaffray. The company was upgraded on Thursday, August 27 by Cantor Fitzgerald. The firm earned “Buy” rating on Thursday, August 13 by Cantor Fitzgerald. The rating was maintained by Canaccord Genuity with “Buy” on Friday, October 23. On Monday, August 10 the stock rating was initiated by Susquehanna with “Positive”.

According to Zacks Investment Research, “Alphabet Inc. is engaged in technology business. The Company provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce and hardware products through its subsidiaries. Alphabet Inc., formerly known as Google Inc., is headquartered in Mountain View, California.”

Insitutional Activity: The institutional sentiment increased to 0.88 in Q2 2016. Its up 0.57, from 0.31 in 2016Q1. The ratio increased, as 8 funds sold all Alphabet Inc shares owned while 9 reduced positions. 4 funds bought stakes while 11 increased positions. They now own 216,684 shares or 9.70% less from 239,969 shares in 2016Q1.
Burney Co accumulated 0.07% or 1,399 shares. Huntington Financial Bank owns 28,736 shares or 0.38% of their US portfolio. Horrell Cap Management last reported 7 shares in the company. Stanley owns 2,712 shares or 0.73% of their US portfolio. Wills accumulated 587 shares or 0.34% of the stock. Bridges Investment Counsel accumulated 0.84% or 9,288 shares. Budros Ruhlin And Roe owns 567 shares or 0.13% of their US portfolio. Liberty Cap Mngmt holds 2,585 shares or 1.21% of its portfolio. Moreover, Money Mngmt Limited Liability has 0.33% invested in Alphabet Inc (NASDAQ:GOOG) for 577 shares. Nelson Roberts holds 2.51% of its portfolio in Alphabet Inc (NASDAQ:GOOG) for 9,638 shares. M Kraus reported 4,292 shares or 2.12% of all its holdings. Mengis Cap holds 2,799 shares or 1.71% of its portfolio. Waldron Lp has 0.26% invested in the company for 972 shares. Balasa Dinverno Foltz Ltd Liability Com holds 1,518 shares or 0.19% of its portfolio. Aft Forsyth Sober Llc has invested 0.47% of its portfolio in Alphabet Inc (NASDAQ:GOOG).

More notable recent Alphabet Inc (NASDAQ:GOOG) news were published by: Fool.com which released: “Alphabet Inc. Earnings: Mark Your Calendar” on October 10, 2016, also Profitconfidential.com with their article: “GOOG Stock: Alphabet Inc. Delivering Ambitious Moves” published on October 07, 2016, Fool.com published: “New Products Point to Increasingly Diverse Opportunities for Alphabet Inc” on October 06, 2016. More interesting news about Alphabet Inc (NASDAQ:GOOG) were released by: Profitconfidential.com and their article: “GOOG Stock: Why Alphabet Inc Is in the Limelight” published on October 03, 2016 as well as Fool.com‘s news article titled: “Better Buy: Twitter, Inc. vs. Google Parent Alphabet, Inc.” with publication date: September 22, 2016.

GOOG Company Profile

Alphabet Inc., incorporated on July 23, 2015, is a holding company. The Firm holds interests in Google Inc. (Google). The Company’s divisions include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company. The Company’s technical infrastructure and Virtual Reality are also included in Google segment. Google segment is engaged in advertising, sales of digital content, applications and cloud services, as well as sale of Google branded hardware. The Other Bets segment consists of various operating divisions and includes businesses, such as Access/Google Fiber, Calico, Nest, Verily, GV, Google Capital, X and other initiatives. Other Bets segment is engaged in the sale of Nest hardware products, Internet and television services through Google Fiber, and licensing and research and development (R&D) services through Verily. Google offers products, including Gmail, which is an e-mail service; Chrome, which is a browser, and Google Play, which allows access to movies, books, music and application on various devices. Google offers platforms, including Chrome OS and Android mobile operating system.

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