Price Action Report: Could Alphabet Inc Lose its Strength? The Stock Reaches Record High

Price Action Report: Could Alphabet Inc Lose its Strength? The Stock Reaches Record High

The stock of Alphabet Inc (NASDAQ:GOOG) reached all time high today, Oct, 12 and still has $964.62 target or 23.00% above today’s $784.24 share price. This indicates more upside for the $546.11 billion company. This technical setup was reported by If the $964.62 PT is reached, the company will be worth $125.61 billion 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 112,523 shares traded hands. Alphabet Inc (NASDAQ:GOOG) has risen 11.04% since March 9, 2016 and is uptrending. It has outperformed by 3.62% 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 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, October 23 by Nomura. The stock of Alphabet Inc (NASDAQ:GOOG) earned “Overweight” rating by Pacific Crest on Monday, December 21. The firm has “Buy” rating given on Friday, October 23 by UBS. The stock of Alphabet Inc (NASDAQ:GOOG) has “Neutral” rating given on Tuesday, August 11 by Monness Crespi & Hardt. The rating was upgraded by Mizuho on Tuesday, August 11 to “Neutral”. The firm has “Overweight” rating given on Friday, October 23 by Pacific Crest. The stock of Alphabet Inc (NASDAQ:GOOG) has “Buy” rating given on Friday, July 29 by Needham. Cowen & Co maintained the stock with “Outperform” rating in Friday, October 23 report. Needham maintained Alphabet Inc (NASDAQ:GOOG) on Tuesday, February 2 with “Buy” rating. The company was maintained on Friday, October 23 by Pivotal Research.

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 2016 Q2. 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.
Budros Ruhlin Roe has invested 0.13% of its portfolio in Alphabet Inc (NASDAQ:GOOG). Huntington State Bank last reported 0.38% of its portfolio in the stock. Hendershot Invs Inc has 2,119 shares for 0.75% of their US portfolio. Aft Forsyth & Sober Limited Com, a Florida-based fund reported 100 shares. Hikari Pwr Limited holds 34,704 shares or 2.77% of its portfolio. Levy Harkins Inc holds 13,413 shares or 4.2% of its portfolio. Moreover, Adams Diversified Equity Fund has 1.65% invested in Alphabet Inc (NASDAQ:GOOG) for 35,597 shares. Burney, a Virginia-based fund reported 1,399 shares. Balasa Dinverno Foltz Ltd Liability Corp last reported 0.19% of its portfolio in the stock. Concannon Wealth Ltd Liability Corp holds 0.01% or 16 shares in its portfolio. Trust Department Mb National Bank N A last reported 0.01% of its portfolio in the stock. Amer Mgmt Co owns 499 shares or 0.13% of their US portfolio. Liberty Mgmt last reported 2,585 shares in the company. M Kraus & Comm owns 4,292 shares or 2.12% of their US portfolio. Wills Group reported 587 shares or 0.34% of all its holdings.

More notable recent Alphabet Inc (NASDAQ:GOOG) news were published by: which released: “Alphabet Inc. Earnings: Mark Your Calendar” on October 10, 2016, also with their article: “GOOG Stock: Alphabet Inc. Delivering Ambitious Moves” published on October 07, 2016, published: “Why Alphabet Inc (GOOG), Mylan NV (MYL) And Tesaro Inc (TSRO) Are 3 of Today’s …” on October 10, 2016. More interesting news about Alphabet Inc (NASDAQ:GOOG) were released by: and their article: “New Products Point to Increasingly Diverse Opportunities for Alphabet Inc” published on October 06, 2016 as well as‘s news article titled: “Google’s Chromebooks Dominate Back-to-School Shopping, While Apple Lags” with publication date: October 12, 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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