Traders Buy Shares of Alphabet Inc. (GOOGL) on Weakness
Investors purchased shares of Alphabet Inc. (NASDAQ:GOOGL) on weakness during trading hours on Friday. $265.24 million flowed into the stock on the tick-up and $194.23 million flowed out of the stock on the tick-down, for a money net flow of $71.01 million into the stock. Of all equities tracked, Alphabet had the 8th highest net in-flow for the day. Alphabet traded down ($8.48) for the day and closed at $941.41
GOOGL has been the subject of a number of research reports. UBS AG reiterated a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a research report on Monday, May 15th. Robert W. Baird restated an “outperform” rating and issued a $1,100.00 price objective on shares of Alphabet in a research report on Friday, May 19th. Piper Jaffray Companies restated an “overweight” 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. Finally, Deutsche Bank AG restated a “buy” rating on shares of Alphabet in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,053.45.
The company’s 50 day moving average price is $946.67 and its 200 day moving average price is $922.99. The firm has a market cap of $652.28 billion, a PE ratio of 34.12 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the previous year, the company posted $8.42 EPS. On average, equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in shares of Alphabet during the 2nd quarter worth $102,000. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Alphabet during the 1st quarter worth $108,000. Delta Asset Management LLC TN grew its position in shares of 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 buying an additional 2 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of 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 buying an additional 36 shares in the last quarter. Finally, Odey Holdings AG grew its position in shares of 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 buying an additional 20 shares in the last quarter. 33.88% of the stock is currently owned by institutional investors and hedge funds.
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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