Traders Sell Shares of Alphabet Inc. (GOOG) on Strength (GOOG)
Investors sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading hours 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
A number of research firms have issued reports on GOOG. Argus reissued a “buy” rating and issued a $900.00 price objective on shares of Alphabet in a report on Tuesday, August 2nd. Deutsche Bank AG reissued a “buy” rating and issued a $1,050.00 price objective (down previously from $1,100.00) on shares of Alphabet in a report on Sunday, July 31st. Wedbush reissued a “neutral” rating and issued a $880.00 price objective (up previously from $840.00) on shares of Alphabet in a report on Sunday, July 31st. Mizuho restated a “buy” rating and issued a $1,020.00 target price (up from $1,010.00) on shares of Alphabet in a research report on Sunday, July 31st. Finally, SunTrust Banks Inc. restated a “buy” rating and issued a $900.00 target price (up from $850.00) on shares of Alphabet in a research report on Sunday, July 31st. Three equities research analysts have rated the stock with a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $919.69.
The firm has a market capitalization of $538.29 billion and a PE ratio of 30.35. The firm has a 50-day moving average price of $734.40 and a 200 day moving average price of $722.94.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. The business had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. During the same quarter last year, the firm posted $6.99 EPS. The business’s quarterly revenue was up 21.3% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post $34.31 EPS for the current fiscal year.
In related news, CEO Lawrence Page sold 33,332 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 14,000 shares in the company, valued at approximately $10,092,460. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sergey Brin sold 33,340 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $792.36, for a total transaction of $26,417,282.40. Following the completion of the transaction, the insider now owns 16,670 shares in the company, valued at approximately $13,208,641.20. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in GOOG. Conning Inc. boosted its position in shares of Alphabet by 3.8% in the fourth quarter. Conning Inc. now owns 9,075 shares of the company’s stock worth $6,887,000 after buying an additional 330 shares during the last quarter. Callahan Advisors LLC raised its position in shares of Alphabet by 1.1% in the fourth quarter. Callahan Advisors LLC now owns 10,484 shares of the company’s stock worth $7,956,000 after buying an additional 116 shares during the period. Mitchell Capital Management Co. raised its position in shares of Alphabet by 5.1% in the fourth quarter. Mitchell Capital Management Co. now owns 21,515 shares of the company’s stock worth $16,327,000 after buying an additional 1,040 shares during the period. New Jersey Better Educational Savings Trust raised its position in shares of Alphabet by 7.7% in the fourth quarter. New Jersey Better Educational Savings Trust now owns 5,600 shares of the company’s stock worth $4,250,000 after buying an additional 400 shares during the period. Finally, Bank Hapoalim BM acquired a new position in shares of Alphabet during the fourth quarter worth $3,936,000.
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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