Investors Sell Alphabet Inc. (GOOGL) on Strength (GOOGL)
Investors sold shares of Alphabet Inc. (NASDAQ:GOOGL) on strength during trading hours on Friday. $236.45 million flowed into the stock on the tick-up and $319.91 million flowed out of the stock on the tick-down, for a money net flow of $83.46 million out of the stock. Of all equities tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $1.55 for the day and closed at $791.40
Several equities research analysts have commented on GOOGL shares. Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $809.35 price target on the stock. in a report on Monday, May 9th. MKM Partners lowered their price target on shares of Alphabet from $950.00 to $930.00 and set a “buy” rating on the stock in a report on Friday, May 13th. Bank of America Corp. reaffirmed a “buy” rating and issued a $925.00 price target on shares of Alphabet in a report on Monday, May 16th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $911.00 price target on shares of Alphabet in a report on Monday, May 16th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $925.00 price target on shares of Alphabet in a report on Thursday, May 19th. Two equities research analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $925.10.
The company’s 50-day moving average is $787.23 and its 200 day moving average is $747.86. The firm has a market capitalization of $547.67 billion and a P/E ratio of 30.88.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.04 by $0.38. Equities analysts forecast that Alphabet Inc. will post $34.25 earnings per share for the current fiscal year.
Other large investors have added to or reduced their stakes in the company. Hamilton Point Investment Advisors LLC increased its stake in Alphabet by 1.9% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 1,389 shares of the company’s stock valued at $1,081,000 after buying an additional 26 shares in the last quarter. Genesee Valley Trust Co. increased its stake in Alphabet by 1.7% in the fourth quarter. Genesee Valley Trust Co. now owns 2,600 shares of the company’s stock valued at $2,023,000 after buying an additional 44 shares in the last quarter. Bailard Inc. acquired a new stake in Alphabet during the fourth quarter valued at about $4,629,000. Guinness Atkinson Asset Management Inc acquired a new stake in Alphabet during the fourth quarter valued at about $5,617,000. Finally, Brown Advisory Securities LLC increased its stake in Alphabet by 1.3% in the fourth quarter. Brown Advisory Securities LLC now owns 8,151 shares of the company’s stock valued at $6,357,000 after buying an additional 102 shares in 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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