Traders Sell Alphabet (GOOG) on Strength (GOOG)
Investors sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading hours on Monday. $246.73 million flowed into the stock on the tick-up and $348.58 million flowed out of the stock on the tick-down, for a money net flow of $101.85 million out of the stock. Of all companies tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $13.60 for the day and closed at $1,054.21
Several research analysts recently commented on the stock. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,031.46 price objective for the company. in a research report on Tuesday, August 22nd. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $1,100.00 price objective on shares of Alphabet in a research report on Saturday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-eight have given a buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,047.86.
The firm has a market cap of $733,850.00, a P/E ratio of 34.84 and a beta of 0.96. 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:GOOG) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.31 by $1.26. The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period last year, the business posted $9.06 earnings per share.
In other Alphabet news, Director L John Doerr sold 12,236 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the sale, the director now directly owns 3,485 shares in the company, valued at $3,560,171.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $1,020.69, for a total value of $4,082,760.00. Following the completion of the sale, the chief executive officer now owns 949 shares in the company, valued at $968,634.81. The disclosure for this sale can be found here. Insiders sold 38,394 shares of company stock worth $37,937,930 over the last quarter. 13.92% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Shelton Capital Management grew its holdings in Alphabet by 8.3% during the third quarter. Shelton Capital Management now owns 25,159 shares of the information services provider’s stock worth $24,130,000 after acquiring an additional 1,929 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Alphabet by 17.3% during the third quarter. Chicago Partners Investment Group LLC now owns 528 shares of the information services provider’s stock worth $506,000 after acquiring an additional 78 shares during the period. Institutional & Family Asset Management LLC acquired a new position in Alphabet during the third quarter worth about $392,000. Steward Partners Investment Advisory LLC acquired a new position in Alphabet during the third quarter worth about $3,617,000. Finally, Optimum Investment Advisors grew its holdings in Alphabet by 6.1% during the third quarter. Optimum Investment Advisors now owns 2,974 shares of the information services provider’s stock worth $2,852,000 after acquiring an additional 170 shares during the period. Institutional investors and hedge funds own 34.73% 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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