Traders Sell Alphabet Inc. (GOOG) on Strength (GOOG)
Investors sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading hours on Monday. $191.15 million flowed into the stock on the tick-up and $224.67 million flowed out of the stock on the tick-down, for a money net flow of $33.52 million out of the stock. Of all companies tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $9.46 for the day and closed at $715.09
A number of equities analysts have weighed in on the stock. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $827.13 price target on the stock in a report on Tuesday, May 31st. TheStreet lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Monday, May 23rd. Atlantic Securities set a $850.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, April 22nd. JMP Securities set a $904.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, April 22nd. Finally, Independent Research GmbH set a $840.00 price target on shares of Alphabet and gave the company a “neutral” rating in a report on Tuesday, April 26th. Four analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $890.81.
The company has a market cap of $490.95 billion and a PE ratio of 29.10. The firm’s 50-day moving average is $708.61 and its 200-day moving average is $718.14.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 21st. The company reported $7.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $7.96 by $0.46. The company had revenue of $20.26 billion for the quarter, compared to analyst estimates of $20.37 billion. During the same quarter last year, the firm posted $6.57 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post $33.56 earnings per share for the current year.
In other Alphabet news, major shareholder Sergey Brin sold 33,332 shares of Alphabet stock in a transaction on Monday, June 27th. The shares were sold at an average price of $673.30, for a total transaction of $22,442,435.60. Following the completion of the transaction, the insider now directly owns 16,666 shares of the company’s stock, valued at $11,221,217.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP James Grier Campbell sold 505 shares of Alphabet stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $708.45, for a total transaction of $357,767.25. Following the transaction, the vice president now directly owns 305 shares of the company’s stock, valued at $216,077.25. The disclosure for this sale can be found here.
A number of institutional investors recently added to or reduced their stakes in GOOG. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Alphabet during the fourth quarter worth approximately $649,879,000. California Public Employees Retirement System bought a new position in Alphabet during the fourth quarter worth approximately $577,729,000. State of New Jersey Common Pension Fund D bought a new position in Alphabet during the fourth quarter worth approximately $538,046,000. Vanguard Group Inc. boosted its position in Alphabet by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 17,492,413 shares of the company’s stock worth $13,274,643,000 after buying an additional 528,943 shares during the period. Finally, Henderson Group PLC bought a new position in Alphabet during the fourth quarter worth approximately $276,891,000.
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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