Traders Buy Large Volume of Alphabet Put Options (GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) was the recipient of unusually large options trading activity on Monday. Investors bought 31,138 put options on the stock. This represents an increase of 348% compared to the typical daily volume of 6,958 put options.

Shares of Alphabet (GOOGL) traded down 0.16% during trading on Tuesday, hitting $944.19. The company had a trading volume of 1,454,222 shares. Alphabet has a 1-year low of $743.59 and a 1-year high of $1,008.61. The firm has a market capitalization of $654.21 billion, a P/E ratio of 34.22 and a beta of 0.99. The company’s 50 day moving average is $963.05 and its 200 day moving average is $904.34.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the prior year, the firm earned $8.42 earnings per share. Analysts anticipate that Alphabet will post $30.60 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on GOOGL. Mizuho reiterated a “buy” rating and issued a $1,220.00 price objective on shares of Alphabet in a report on Monday. B. Riley reiterated a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a report on Sunday, July 30th. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Thursday, July 27th. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 price objective on shares of Alphabet in a report on Thursday, July 27th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $970.00 price objective on shares of Alphabet in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,047.77.

A number of large investors have recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. increased its stake in Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock valued at $135,000 after buying an additional 1 shares during the period. Pure Financial Advisors Inc. increased its stake in Alphabet by 0.4% in the second quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock valued at $258,000 after buying an additional 1 shares during the period. Delta Asset Management LLC TN increased its stake in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares during the period. Baystate Wealth Management LLC increased its stake in Alphabet by 0.7% in the second quarter. Baystate Wealth Management LLC now owns 295 shares of the information services provider’s stock valued at $288,000 after buying an additional 2 shares during the period. Finally, First Bank & Trust increased its stake in Alphabet by 0.3% in the second quarter. First Bank & Trust now owns 764 shares of the information services provider’s stock valued at $710,000 after buying an additional 2 shares during the period. 34.31% of the stock is currently owned by institutional investors and hedge funds.

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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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