Investors Sell Alphabet Inc. (GOOG) on Strength (GOOG)
Investors sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading on Tuesday. $205.58 million flowed into the stock on the tick-up and $269.33 million flowed out of the stock on the tick-down, for a money net flow of $63.75 million out of the stock. Of all companies tracked, Alphabet had the 10th highest net out-flow for the day. Alphabet traded up $3.18 for the day and closed at $736.96
GOOG has been the subject of several recent analyst reports. Deutsche Bank AG reissued a “buy” rating on shares of Alphabet in a report on Monday, April 4th. Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 price target for the company. in a report on Tuesday, June 21st. Evercore ISI reissued a “buy” rating and issued a $830.00 price target (down previously from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Robert W. Baird set a $860.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, April 22nd. Finally, MKM Partners cut their price target on shares of Alphabet from $950.00 to $930.00 and set a “buy” rating for the company in a report on Sunday, May 15th. Four analysts have rated the stock with a hold rating and forty-five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $897.45.
The stock has a market capitalization of $505.96 billion and a price-to-earnings ratio of 29.99. The firm’s 50-day moving average price is $709.59 and its 200 day moving average price is $717.01.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 21st. The company reported $7.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $7.96 by $0.46. The company earned $20.26 billion during the quarter, compared to analyst estimates of $20.37 billion. During the same period in the prior year, the company earned $6.57 EPS. Alphabet’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post $33.49 EPS for the current year.
In other Alphabet news, VP James Grier Campbell sold 505 shares of the business’s 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 completion of the transaction, the vice president now owns 305 shares in the company, valued at approximately $216,077.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David C. Drummond sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $725.52, for a total value of $3,627,600.00. Following the transaction, the senior vice president now owns 13,248 shares of the company’s stock, valued at approximately $9,611,688.96. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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. Jennison Associates LLC raised its stake in shares of Alphabet by 0.5% in the fourth quarter. Jennison Associates LLC now owns 2,785,534 shares of the company’s stock valued at $2,113,886,000 after buying an additional 14,763 shares during the period. Morgan Stanley raised its stake in shares of Alphabet by 9.0% in the fourth quarter. Morgan Stanley now owns 2,148,597 shares of the company’s stock valued at $1,630,530,000 after buying an additional 178,225 shares during the period. American Century Companies Inc. raised its stake in shares of Alphabet by 1.7% in the fourth quarter. American Century Companies Inc. now owns 915,671 shares of the company’s stock valued at $694,884,000 after buying an additional 15,499 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at $649,879,000.
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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