Traders Buy Shares of Alphabet Inc. (GOOGL) on Weakness
Traders bought shares of Alphabet Inc. (NASDAQ:GOOGL) on weakness during trading hours on Tuesday. $203.17 million flowed into the stock on the tick-up and $151.89 million flowed out of the stock on the tick-down, for a money net flow of $51.28 million into the stock. Of all companies tracked, Alphabet had the 5th highest net in-flow for the day. Alphabet traded down ($0.36) for the day and closed at $796.59
A number of equities research analysts have recently weighed in on the company. Axiom Securities reaffirmed a “buy” rating and set a $1,001.00 price target on shares of Alphabet in a research note on Wednesday, May 4th. B. Riley reaffirmed a “buy” rating and set a $875.00 price target on shares of Alphabet in a research note on Wednesday, April 27th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research note on Saturday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of Alphabet in a research note on Tuesday, June 28th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Alphabet in a research note on Sunday, July 10th. Two research analysts have rated the stock with a hold rating, forty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $923.50.
The stock has a market cap of $547.47 billion and a P/E ratio of 30.86. The company’s 50 day moving average price is $771.12 and its 200 day moving average price is $743.69.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.04 by $0.38. Equities research analysts anticipate that Alphabet Inc. will post $34.25 EPS for the current year.
Other hedge funds and institutional investors recently made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of Alphabet by 4.8% in the fourth quarter. ProShare Advisors LLC now owns 148,523 shares of the company’s stock valued at $115,552,000 after buying an additional 6,805 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Alphabet by 17.9% in the fourth quarter. Profund Advisors LLC now owns 29,321 shares of the company’s stock worth $22,812,000 after buying an additional 4,462 shares during the last quarter. ProVise Management Group LLC increased its stake in shares of Alphabet by 514.8% in the fourth quarter. ProVise Management Group LLC now owns 5,312 shares of the company’s stock worth $4,133,000 after buying an additional 4,448 shares during the last quarter. Myriad Asset Management Ltd. acquired a new stake in shares of Alphabet during the fourth quarter worth $49,061,000. Finally, Columbus Circle Investors increased its stake in shares of Alphabet by 220.8% in the fourth quarter. Columbus Circle Investors now owns 397,037 shares of the company’s stock worth $308,899,000 after buying an additional 273,291 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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