Traders Buy Alphabet Inc. (GOOGL) on Weakness
Traders bought shares of Alphabet Inc. (NASDAQ:GOOGL) on weakness during trading on Monday. $296.49 million flowed into the stock on the tick-up and $204.91 million flowed out of the stock on the tick-down, for a money net flow of $91.58 million into the stock. Of all stocks tracked, Alphabet had the 3rd highest net in-flow for the day. Alphabet traded down ($3.25) for the day and closed at $951.99
GOOGL has been the subject of several analyst reports. Deutsche Bank AG restated a “buy” rating on shares of Alphabet in a research report on Monday, May 22nd. Aegis restated a “buy” rating on shares of Alphabet in a research report on Monday, May 22nd. UBS AG restated a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a research report on Monday, May 15th. Moffett Nathanson restated a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 target price for the company in a research report on Monday, June 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average price target of $1,053.45.
The company has a 50 day moving average price of $949.18 and a 200 day moving average price of $922.65. The company has a market capitalization of $652.33 billion, a price-to-earnings ratio of 34.12 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $8.25 by $3.24. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the previous year, the company earned $8.42 earnings per share. Equities analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.
Institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in Alphabet during the 2nd quarter worth about $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Alphabet during the 1st quarter worth about $108,000. Delta Asset Management LLC TN grew its holdings in Alphabet by 1.5% during the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after acquiring an additional 2 shares during the period. Parkside Financial Bank & Trust grew its holdings in Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares during the period. Finally, Odey Holdings AG grew its holdings in Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 33.88% of the company’s stock.
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Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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