What’s Propelling Alphabet Inc. (GOOG) to Increase? The Stock Formed a Bullish Double Top

March 14, 2018 - By Kurt Siggers

Investors sentiment increased to 1 in Q3 2017. Its up 0.08, from 0.92 in 2017Q2. It is positive, as 4 investors sold Alphabet Inc. shares while 6 reduced holdings. 2 funds opened positions while 8 raised stakes. 98,560 shares or 34.05% less from 149,437 shares in 2017Q2 were reported.
Tanaka Capital Mngmt Inc reported 176 shares stake. Mengis Mgmt invested in 2.47% or 3,843 shares. 7,006 are owned by Baxter Bros. Staley Capital Advisers Inc stated it has 28,286 shares. Cullinan invested 0.28% in Alphabet Inc. (NASDAQ:GOOG). Amer Research Management Com reported 0.31% of its portfolio in Alphabet Inc. (NASDAQ:GOOG). Pettyjohn Wood White Inc has invested 0.1% in Alphabet Inc. (NASDAQ:GOOG). Moreover, Balasa Dinverno And Foltz Llc has 0.23% invested in Alphabet Inc. (NASDAQ:GOOG) for 1,531 shares. Cohen Cap reported 0.06% of its portfolio in Alphabet Inc. (NASDAQ:GOOG). M Kraus & has invested 2.71% in Alphabet Inc. (NASDAQ:GOOG). First Bancorporation Of Omaha reported 0.04% in Alphabet Inc. (NASDAQ:GOOG). Focused Wealth Mngmt Inc reported 229 shares or 0.07% of all its holdings. Welch Gp Limited Liability Co holds 0.03% or 192 shares. Asset Group has 246 shares. Horrell Capital Mngmt Incorporated holds 0% of its portfolio in Alphabet Inc. (NASDAQ:GOOG) for 5 shares.

The chart of Alphabet Inc. (GOOG) shows a double top with $1186.19 target or 3.00 % above today’s $1151.64 share price. The 8 months chart pattern indicates low risk for the $800.97 billion company. It was reported on Mar, 14 by Finviz.com. If the $1186.19 price target is reached, the company will be worth $24.03B more. Double tops are rare but powerful chart patterns.

The stock increased 1.18% or $13.47 during the last trading session, reaching $1151.64. About 580,676 shares traded. Alphabet Inc. (NASDAQ:GOOG) has risen 33.37% since March 14, 2017 and is uptrending. It has outperformed by 16.67% the S&P500.

Alphabet Inc. (NASDAQ:GOOG) Ratings Coverage

Among 31 analysts covering Google Inc. (NASDAQ:GOOG), 27 have Buy rating, 0 Sell and 4 Hold. Therefore 87% are positive. Google Inc. had 50 analyst reports since July 21, 2015 according to SRatingsIntel. Deutsche Bank maintained the shares of GOOG in report on Tuesday, August 11 with “Buy” rating. The firm has “Buy” rating by Jefferies given on Friday, October 23. FBR Capital maintained the stock with “Outperform” rating in Friday, October 23 report. On Monday, August 10 the stock rating was upgraded by Stifel Nicolaus to “Hold”. Deutsche Bank maintained Alphabet Inc. (NASDAQ:GOOG) rating on Friday, July 21. Deutsche Bank has “Buy” rating and $1258 target. The stock of Alphabet Inc. (NASDAQ:GOOG) has “Overweight” rating given on Friday, October 23 by Piper Jaffray. The company was maintained on Tuesday, July 25 by Bank of America. The firm has “Buy” rating by Canaccord Genuity given on Friday, October 23. Atlantic Securities upgraded the stock to “Overweight” rating in Wednesday, August 19 report. The stock of Alphabet Inc. (NASDAQ:GOOG) has “Overweight” rating given on Friday, February 2 by PiperJaffray.

More notable recent Alphabet Inc. (NASDAQ:GOOG) news were published by: Investorplace.com which released: “Alphabet Inc Is at Crossroads, but Offers Investor Certainty” on March 14, 2018, also Usnews.com with their article: “Google Doesn’t Need Cryptocurrency Ad Revenue” published on March 14, 2018, Finance.Yahoo.com published: “3 Stocks to Watch on Monday: Alphabet Inc (GOOG, GOOGL), Apple Inc. (AAPL) and …” on March 05, 2018. More interesting news about Alphabet Inc. (NASDAQ:GOOG) were released by: Finance.Yahoo.com and their article: “Why Alphabet Inc Stock Is Still Worth a Look” published on March 08, 2018 as well as Livetradingnews.com‘s news article titled: “Alphabet Inc (NASDAQ:GOOG) Stock Technicals Suggest Upward Trend” with publication date: March 13, 2018.

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