Investors Buy Shares of Alphabet Inc. (GOOGL) on Weakness
Investors purchased shares of Alphabet Inc. (NASDAQ:GOOGL) on weakness during trading hours on Friday. $416.07 million flowed into the stock on the tick-up and $246.79 million flowed out of the stock on the tick-down, for a money net flow of $169.28 million into the stock. Of all equities tracked, Alphabet had the highest net in-flow for the day. Alphabet traded down ($12.58) for the day and closed at $1,035.89
Several equities analysts have issued reports on GOOGL shares. CIBC reaffirmed an “outperform” rating and issued a $1,180.00 price target (up from $1,050.00) on shares of Alphabet in a report on Friday, October 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,050.00 price target on shares of Alphabet in a report on Saturday, July 22nd. Pivotal Research reaffirmed a “hold” rating and issued a $940.00 price target (down from $980.00) on shares of Alphabet in a report on Tuesday, July 25th. Deutsche Bank AG reiterated a “buy” rating and set a $1,258.00 price objective (up from $1,250.00) on shares of Alphabet in a research note on Saturday, July 22nd. Finally, Citigroup Inc. lifted their price objective on shares of Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,088.53.
The company has a market cap of $723,000.00, a P/E ratio of 34.87, a P/E/G ratio of 1.76 and a beta of 0.91. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company had revenue of $22.27 billion during the quarter, compared to analysts’ expectations of $21.94 billion. During the same quarter last year, the business earned $9.06 EPS. sell-side analysts predict that Alphabet Inc. will post 32.15 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in shares of Alphabet in the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $108,000. Parkside Financial Bank & Trust lifted its stake in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after purchasing an additional 36 shares during the period. Stelac Advisory Services LLC acquired a new stake in shares of Alphabet in the third quarter valued at about $126,000. Finally, Odey Holdings AG lifted its stake in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after purchasing an additional 20 shares during the period. Institutional investors own 33.81% of the company’s stock.
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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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