What’s Ahead for Alphabet Inc (GOOG) After Forming Multiple Top Chart Pattern?

September 17, 2017 - By Peter Erickson

Investors sentiment decreased to 0.81 in Q4 2016. Its down 0.07, from 0.88 in 2016Q3. It is negative, as 8 investors sold Alphabet Inc shares while 8 reduced holdings. 2 funds opened positions while 11 raised stakes. 124,511 shares or 36.89% less from 197,289 shares in 2016Q3 were reported.
Aft Forsyth And Sober Limited Liability Com accumulated 100 shares or 0.12% of the stock. Stanley has 0.28% invested in Alphabet Inc (NASDAQ:GOOG) for 1,174 shares. Hendershot stated it has 2,069 shares. Grand Jean Management Inc holds 16,295 shares. Tanaka holds 0.33% of its portfolio in Alphabet Inc (NASDAQ:GOOG) for 176 shares. Ashford Management has 1,264 shares. Burney reported 0.07% in Alphabet Inc (NASDAQ:GOOG). Baxter Bros reported 1.41% of its portfolio in Alphabet Inc (NASDAQ:GOOG). Levy Harkins reported 4.03% stake. Balasa Dinverno & Foltz Ltd Liability holds 0.19% or 1,467 shares in its portfolio. Moreover, Nelson Roberts Invest Advsr Limited Co has 2.56% invested in Alphabet Inc (NASDAQ:GOOG). Adams Diversified Equity Fund has invested 1.7% in Alphabet Inc (NASDAQ:GOOG). Columbia Asset Mgmt reported 3,680 shares or 0.96% of all its holdings. Nadler Finance Group Inc holds 0.23% or 788 shares. First Natl Bank Of Omaha owns 1,300 shares for 0.04% of their portfolio.

The stock of Alphabet Inc (GOOG) shows a multiple tops pattern with $957.10 target or 4.00 % above today’s $920.29 share price. The 8 months chart pattern indicates low risk for the $646.17 billion company. It was reported on Sep, 17 by Finviz.com. If the $957.10 price target is reached, the company will be worth $25.85 billion more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.52% or $4.82 on September 15, reaching $920.29. About 2.51 million shares traded or 102.42% up from the average. Alphabet Inc (NASDAQ:GOOG) has risen 33.37% since September 17, 2016 and is uptrending. It has outperformed by 16.67% the S&P500.

Alphabet Inc (NASDAQ:GOOG) Ratings Coverage

Among 30 analysts covering Google Inc. (NASDAQ:GOOG), 26 have Buy rating, 0 Sell and 4 Hold. Therefore 87% are positive. Google Inc. had 47 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was initiated by Aegis Capital with “Buy” on Wednesday, December 21. The firm earned “Buy” rating on Friday, July 21 by Deutsche Bank. On Friday, October 23 the stock rating was maintained by Credit Suisse with “Outperform”. The stock of Alphabet Inc (NASDAQ:GOOG) has “Buy” rating given on Friday, October 23 by Needham. RBC Capital Markets maintained Alphabet Inc (NASDAQ:GOOG) rating on Tuesday, August 11. RBC Capital Markets has “Outperform” rating and $750 target. The stock of Alphabet Inc (NASDAQ:GOOG) has “Buy” rating given on Tuesday, August 11 by Axiom Securities. The rating was maintained by Nomura with “Buy” on Friday, October 23. The stock has “Neutral” rating by Monness Crespi & Hardt on Tuesday, August 11. The stock of Alphabet Inc (NASDAQ:GOOG) earned “Overweight” rating by Piper Jaffray on Friday, October 23. On Friday, October 23 the stock rating was maintained by Jefferies with “Buy”.

More notable recent Alphabet Inc (NASDAQ:GOOG) news were published by: Seekingalpha.com which released: “Google’s Innovativeness Will Overcome Regulatory Pressure” on September 13, 2017, also Bloomberg.com with their article: “Alphabet Considers Lyft Investment of About $1 Billion” published on September 14, 2017, Investorplace.com published: “Alphabet Inc (GOOGL) Stock: One That Got Away From Warren Buffett” on September 13, 2017. More interesting news about Alphabet Inc (NASDAQ:GOOG) were released by: Investorplace.com and their article: “Buy This Dip In Alphabet Inc (GOOGL) Stock” published on September 01, 2017 as well as Investorplace.com‘s news article titled: “Alphabet Inc (GOOGL) Google Android One Partners With Xiaomi” with publication date: September 05, 2017.

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