Investors Sell Alphabet Inc. (GOOG) on Strength (GOOG)
Investors sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading on Thursday. $173.99 million flowed into the stock on the tick-up and $201.40 million flowed out of the stock on the tick-down, for a money net flow of $27.41 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $0.17 for the day and closed at $784.85
Several equities research analysts have commented on the stock. Citigroup Inc. reaffirmed a “buy” rating and issued a $900.00 target price on shares of Alphabet in a research note on Saturday, June 18th. Stifel Nicolaus reissued a “buy” rating and set a $925.00 price objective (up previously from $888.00) on shares of Alphabet in a research report on Friday, July 29th. Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $778.60 price objective for the company. in a research report on Thursday, April 21st. Longbow Research started coverage on shares of Alphabet in a research report on Wednesday, July 6th. They set a “buy” rating for the company. Finally, Macquarie reissued an “outperform” rating and set a $975.00 price objective on shares of Alphabet in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $919.69.
The company has a market capitalization of $537.88 billion and a P/E ratio of 30.3238. The firm’s 50 day moving average is $732.07 and its 200-day moving average is $722.43.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating analysts’ consensus estimates of $8.03 by $0.39. During the same quarter in the previous year, the business earned $6.99 earnings per share. The business had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. The firm’s revenue was up 21.3% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post $34.31 earnings per share for the current fiscal year.
In other Alphabet news, insider Sergey Brin sold 33,340 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $792.36, for a total transaction of $26,417,282.40. Following the transaction, the insider now directly owns 16,670 shares in the company, valued at $13,208,641.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lawrence Page sold 33,332 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $720.89, for a total value of $24,028,705.48. Following the sale, the chief executive officer now directly owns 14,000 shares of the company’s stock, valued at approximately $10,092,460. The disclosure for this sale can be found here.
Other hedge funds recently added to or reduced their stakes in the company. ProVise Management Group LLC bought a new stake in Alphabet during the fourth quarter worth $1,826,000. Boys Arnold & Co. Inc. raised its stake in Alphabet by 101.1% in the fourth quarter. Boys Arnold & Co. Inc. now owns 5,060 shares of the company’s stock worth $3,840,000 after buying an additional 2,544 shares during the period. Nichols & Pratt Advisers LLP MA raised its stake in Alphabet by 1.7% in the fourth quarter. Nichols & Pratt Advisers LLP MA now owns 15,929 shares of the company’s stock worth $12,088,000 after buying an additional 262 shares during the period. Mawer Investment Management Ltd. bought a new stake in Alphabet during the fourth quarter worth $133,828,000. Finally, MetLife Securities Inc raised its stake in Alphabet by 61.4% in the fourth quarter. MetLife Securities Inc now owns 6,319 shares of the company’s stock worth $4,795,000 after buying an additional 2,403 shares during the period.
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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