Traders Sell Shares of Alphabet Inc. (GOOGL) on Strength (GOOGL)
Investors sold shares of Alphabet Inc. (NASDAQ:GOOGL) on strength during trading hours on Wednesday. $197.18 million flowed into the stock on the tick-up and $225.13 million flowed out of the stock on the tick-down, for a money net flow of $27.95 million out of the stock. Of all companies tracked, Alphabet had the 13th highest net out-flow for the day. Alphabet traded up $1.01 for the day and closed at $808.49
GOOGL has been the topic of several research analyst reports. Bank of America Corp. reiterated a “buy” rating and set a $945.00 price target on shares of Alphabet in a research note on Tuesday, April 12th. Citigroup Inc. reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 12th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $890.00 price objective on shares of Alphabet in a research note on Thursday, April 14th. Stifel Nicolaus dropped their price objective on shares of Alphabet from $930.00 to $888.00 and set a “buy” rating on the stock in a research note on Friday, April 22nd. Finally, Jefferies Group restated a “buy” rating and issued a $925.00 price objective (down from $950.00) on shares of Alphabet in a research note on Friday, April 22nd. Three investment analysts have rated the stock with a hold rating, forty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $919.88.
The firm has a market cap of $555.65 billion and a P/E ratio of 31.33. The firm has a 50 day moving average price of $746.53 and a 200 day moving average price of $739.82.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the consensus estimate of $8.04 by $0.38. Equities analysts anticipate that Alphabet Inc. will post $34.26 EPS for the current fiscal year.
A number of institutional investors have modified their holdings of GOOGL. Jennison Associates LLC raised its position in shares of Alphabet by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,751,344 shares of the company’s stock valued at $2,140,573,000 after buying an additional 8,500 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Alphabet by 1.0% in the fourth quarter. BlackRock Investment Management LLC now owns 1,362,988 shares of the company’s stock valued at $1,060,418,000 after buying an additional 13,325 shares during the last quarter. OppenheimerFunds Inc. raised its position in Alphabet by 27.6% in the fourth quarter. OppenheimerFunds Inc. now owns 1,186,805 shares of the company’s stock worth $923,378,000 after buying an additional 256,998 shares in the last quarter. Edgewood Management LLC raised its position in Alphabet by 14.2% in the fourth quarter. Edgewood Management LLC now owns 805,144 shares of the company’s stock worth $626,410,000 after buying an additional 100,398 shares in the last quarter. Finally, California Public Employees Retirement System purchased a new position in Alphabet during the fourth quarter worth approximately $610,161,000.
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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