Traders Sell Alphabet (GOOGL) on Strength (GOOGL)
Traders sold shares of Alphabet Inc (NASDAQ:GOOGL) on strength during trading on Tuesday. $348.64 million flowed into the stock on the tick-up and $455.53 million flowed out of the stock on the tick-down, for a money net flow of $106.89 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $8.09 for the day and closed at $1,103.59
Several research firms have commented on GOOGL. William Blair reissued an “outperform” rating on shares of Alphabet in a research report on Thursday, February 1st. Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,241.78 target price on the stock. in a research report on Thursday. MKM Partners reissued a “buy” rating and set a $1,355.00 target price (up from $1,210.00) on shares of Alphabet in a research report on Wednesday. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price on the stock. in a research report on Friday, February 2nd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $1,100.00 target price (up from $1,080.00) on shares of Alphabet in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $1,161.00.
The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The company has a market cap of $766,755.56, a P/E ratio of 62.01, a price-to-earnings-growth ratio of 1.14 and a beta of 0.95.
Alphabet announced that its board has authorized a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in shares of Alphabet in the fourth quarter valued at approximately $108,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $123,000. Financial Gravity Companies Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $138,000. Lee Financial Co raised its stake in shares of Alphabet by 500.0% in the fourth quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock valued at $126,000 after acquiring an additional 100 shares during the last quarter. Finally, Stelac Advisory Services LLC bought a new position in shares of Alphabet in the third quarter valued at approximately $126,000. Hedge funds and other institutional investors own 33.29% 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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