This afternoon we watched Alphabet drop -7.3% to a price of $140.41 per share. The large-cap Software company is now trading -10.3% below its average target price of $156.52. Analysts have set target prices ranging from $127.86 to $180.0 per share for Alphabet, and have given the stock an average rating of buy.
The stock has a very low short interest at 0.8%, and a short ratio of 1.82. The company's insiders own 0.28% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 79.8% of Alphabet's shares being owned by this investor type.
Institutions Invested in Alphabet
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Vanguard Group Inc | 8% | 487,435,495 | $68,438,380,080 |
| 2023-09-30 | Blackrock Inc. | 7% | 410,944,231 | $57,698,624,251 |
| 2023-09-30 | FMR, LLC | 4% | 227,317,469 | $31,916,508,957 |
| 2023-09-30 | State Street Corporation | 4% | 212,450,743 | $29,829,146,311 |
| 2023-09-30 | Geode Capital Management, LLC | 2% | 123,403,812 | $17,326,512,073 |
| 2023-09-30 | Price (T.Rowe) Associates Inc | 2% | 113,724,357 | $15,967,468,205 |
| 2023-09-30 | Morgan Stanley | 2% | 111,257,729 | $15,621,141,304 |
| 2022-12-31 | Norges Bank Investment Management | 2% | 94,469,711 | $13,264,019,657 |
| 2023-09-30 | Wellington Management Group, LLP | 1% | 88,093,723 | $12,368,799,070 |
| 2023-09-30 | Northern Trust Corporation | 1% | 67,684,197 | $9,503,199,597 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Alphabet.
