Investors Sell Alphabet Inc. (GOOG) on Strength (GOOG)
Traders sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading on Friday. $245.19 million flowed into the stock on the tick-up and $288.85 million flowed out of the stock on the tick-down, for a money net flow of $43.66 million out of the stock. Of all equities tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $10.27 for the day and closed at $705.63
Several research firms have recently weighed in on GOOG. Jefferies Group reissued a “buy” rating and set a $925.00 price objective (down from $950.00) on shares of Alphabet in a research note on Monday, April 25th. Evercore ISI reaffirmed a “buy” rating and issued a $830.00 target price (down previously from $950.00) on shares of Alphabet in a research report on Thursday, June 23rd. Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $779.82 target price for the company. in a research report on Wednesday, April 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Thursday, May 26th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $810.00 target price (down previously from $850.00) on shares of Alphabet in a research report on Wednesday, June 29th. Four research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $890.81.
The company has a 50-day moving average price of $708.46 and a 200-day moving average price of $718.85. The firm has a market capitalization of $484.45 billion and a P/E ratio of 28.71.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 21st. The company reported $7.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $7.96 by $0.46. The firm had revenue of $20.26 billion for the quarter, compared to analysts’ expectations of $20.37 billion. During the same period in the prior year, the firm earned $6.57 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post $33.56 earnings per share for the current year.
In related news, SVP David C. Drummond sold 5,000 shares of Alphabet stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $748.22, for a total transaction of $3,741,100.00. Following the completion of the transaction, the senior vice president now owns 15,084 shares of the company’s stock, valued at $11,286,150.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $690.94, for a total transaction of $2,763,760.00. Following the transaction, the chief executive officer now directly owns 3,672 shares of the company’s stock, valued at approximately $2,537,131.68. The disclosure for this sale can be found here.
Other institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Alphabet during the fourth quarter worth $214,269,000. Riverbridge Partners LLC increased its position in shares of Alphabet by 2.7% in the fourth quarter. Riverbridge Partners LLC now owns 20,838 shares of the company’s stock worth $15,814,000 after buying an additional 539 shares in the last quarter. Triangle Securities Wealth Management purchased a new position in shares of Alphabet during the fourth quarter worth $3,634,000. SeaBridge Investment Advisors LLC increased its position in shares of Alphabet by 0.4% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 7,500 shares of the company’s stock worth $5,692,000 after buying an additional 30 shares in the last quarter. Finally, DIAM Co. Ltd. increased its position in shares of Alphabet by 4.8% in the fourth quarter. DIAM Co. Ltd. now owns 55,189 shares of the company’s stock worth $42,743,000 after buying an additional 2,528 shares in the last quarter.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments 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.
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