Investors Sell Alphabet Inc. (GOOGL) on Strength (GOOGL)
Traders sold shares of Alphabet Inc. (NASDAQ:GOOGL) on strength during trading hours on Wednesday. $202.81 million flowed into the stock on the tick-up and $255.91 million flowed out of the stock on the tick-down, for a money net flow of $53.10 million out of the stock. Of all equities tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $4.23 for the day and closed at $805.42
Several equities research analysts recently weighed in on GOOGL shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research note on Sunday. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $834.59 price target on the stock in a research note on Tuesday. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $896.00 price target on the stock in a research note on Wednesday, August 3rd. B. Riley reaffirmed a “buy” rating and issued a $950.00 price target on shares of Alphabet in a research note on Wednesday, August 3rd. Finally, Macquarie reaffirmed an “outperform” rating and issued a $975.00 price target on shares of Alphabet in a research note on Sunday, July 31st. Two research analysts have rated the stock with a hold rating, forty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $921.38.
The stock’s 50 day moving average is $762.10 and its 200-day moving average is $742.22. The company has a market capitalization of $553.54 billion and a price-to-earnings ratio of 31.21.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.04 by $0.38. On average, equities research analysts predict that Alphabet Inc. will post $34.26 earnings per share for the current fiscal year.
A number of institutional investors have added to or reduced their stakes in the company. WMS Partners LLC boosted its position in Alphabet by 0.6% in the fourth quarter. WMS Partners LLC now owns 16,919 shares of the company’s stock worth $13,163,000 after buying an additional 109 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in Alphabet by 3.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 46,395 shares of the company’s stock worth $36,096,000 after buying an additional 1,460 shares during the last quarter. MetLife Securities Inc boosted its position in Alphabet by 41.9% in the fourth quarter. MetLife Securities Inc now owns 11,928 shares of the company’s stock worth $9,280,000 after buying an additional 3,522 shares during the last quarter. Main Street Research LLC acquired a new position in Alphabet during the fourth quarter worth $6,942,000. Finally, BARING ASSET MANAGEMENT Ltd boosted its position in Alphabet by 14.7% in the fourth quarter. BARING ASSET MANAGEMENT Ltd now owns 4,019 shares of the company’s stock worth $3,127,000 after buying an additional 515 shares during the last quarter.
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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