Investors Sell Alphabet Inc. (GOOG) on Strength (GOOG)
Traders sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading hours on Friday. $245.19 million flowed into the stock on the tick-up and $288.85 million flowed out of the stock on the tick-down, for a money net flow of $43.66 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $10.27 for the day and closed at $705.63
Several research analysts recently weighed in on the company. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $778.60 target price on the stock. in a research report on Thursday, April 21st. JPMorgan Chase & Co. set a $925.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Friday, April 22nd. Oppenheimer Holdings Inc. set a $958.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Friday, April 22nd. Robert W. Baird set a $860.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Friday, April 22nd. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $1,100.00 price objective (up from $1,080.00) on shares of Alphabet in a research report on Friday, April 22nd. Four analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $890.81.
The firm has a 50-day moving average price of $708.46 and a 200-day moving average price of $718.85. The stock has a market capitalization of $484.45 billion and a PE ratio of 28.71.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 21st. The company reported $7.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $7.96 by $0.46. The business had revenue of $20.26 billion for the quarter, compared to the consensus estimate of $20.37 billion. During the same quarter in the previous year, the business posted $6.57 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post $33.56 earnings per share for the current year.
In other news, VP James Grier Campbell sold 505 shares of the stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $708.45, for a total transaction of $357,767.25. Following the completion of the sale, the vice president now owns 305 shares of the company’s stock, valued at $216,077.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David C. Drummond sold 5,000 shares of the stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $748.22, for a total transaction of $3,741,100.00. Following the sale, the senior vice president now directly owns 15,084 shares of the company’s stock, valued at approximately $11,286,150.48. The disclosure for this sale can be found here.
Several large investors recently modified their holdings of GOOG. Parthenon LLC increased its stake in shares of Alphabet by 1.1% in the fourth quarter. Parthenon LLC now owns 7,470 shares of the company’s stock valued at $5,669,000 after buying an additional 84 shares in the last quarter. Swiss National Bank increased its position in Alphabet by 1.6% in the fourth quarter. Swiss National Bank now owns 562,666 shares of the company’s stock worth $426,996,000 after buying an additional 8,800 shares during the period. Chemung Canal Trust Co. increased its position in Alphabet by 7.8% in the fourth quarter. Chemung Canal Trust Co. now owns 5,720 shares of the company’s stock worth $4,341,000 after buying an additional 416 shares during the period. Conning Inc. increased its position in 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 period. Finally, Hanseatic Management Services Inc. acquired a new position in Alphabet during the fourth quarter worth $3,489,000.
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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