Traders Sell Alphabet Inc. (GOOG) on Strength (GOOG)
Traders sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading hours on Thursday. $166.42 million flowed into the stock on the tick-up and $198.50 million flowed out of the stock on the tick-down, for a money net flow of $32.08 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $1.73 for the day and closed at $768.78
A number of research analysts have commented on GOOG shares. Goldman Sachs Group Inc. set a $810.00 target price on Alphabet and gave the stock a “buy” rating in a report on Wednesday, July 20th. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $778.71 price target on the stock in a research report on Monday, June 20th. Longbow Research started coverage on Alphabet in a research report on Wednesday, July 6th. They set a “buy” rating on the stock. Societe Generale set a $910.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Thursday, July 7th. Finally, Wedbush reiterated a “neutral” rating and set a $880.00 price target (up from $840.00) on shares of Alphabet in a research report on Sunday, July 31st. Two analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $921.01.
The company has a market cap of $528.36 billion and a P/E ratio of 29.79. The firm’s 50 day moving average price is $763.35 and its 200-day moving average price is $729.30.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the Zacks’ consensus estimate of $8.03 by $0.39. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same quarter in the prior year, the company earned $6.99 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post $34.30 EPS for the current fiscal year.
In related news, VP James Grier Campbell sold 603 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total value of $462,609.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 43 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $773.49, for a total transaction of $33,260.07. Following the completion of the sale, the director now owns 1,656 shares of the company’s stock, valued at $1,280,899.44. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. Morgan Stanley increased 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. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at about $649,879,000. Atlantic Trust Group LLC increased its stake in shares of Alphabet by 1.6% in the fourth quarter. Atlantic Trust Group LLC now owns 297,769 shares of the company’s stock valued at $225,971,000 after buying an additional 4,649 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Alphabet by 2.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 135,475 shares of the company’s stock valued at $102,809,000 after buying an additional 2,935 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of Alphabet by 2.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 92,011 shares of the company’s stock valued at $69,825,000 after buying an additional 2,298 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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