Traders Sell Alphabet (GOOGL) on Strength (GOOGL)
Traders sold shares of Alphabet Inc (NASDAQ:GOOGL) on strength during trading hours on Wednesday. $479.26 million flowed into the stock on the tick-up and $646.62 million flowed out of the stock on the tick-down, for a money net flow of $167.36 million out of the stock. Of all stocks tracked, Alphabet had the 3rd highest net out-flow for the day. Alphabet traded up $8.98 for the day and closed at $1,148.89
GOOGL has been the topic of a number of analyst reports. Wells Fargo & Co reiterated a “buy” rating and set a $1,275.00 target price on shares of Alphabet in a report on Friday, February 2nd. Cowen increased their target price on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Oppenheimer increased their target price on Alphabet from $1,180.00 to $1,340.00 and gave the company a “hold” rating in a report on Friday, February 2nd. William Blair reiterated an “outperform” rating on shares of Alphabet in a report on Thursday, February 1st. Finally, SunTrust Banks reiterated a “buy” rating and set a $1,250.00 target price on shares of Alphabet in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,167.67.
The company has a market capitalization of $797,790.00, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.
Alphabet declared that its Board of Directors has authorized a share buyback plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Institutional investors have recently modified their holdings of the stock. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in Alphabet in the fourth quarter valued at about $108,000. Odey Holdings AG raised its position in 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. Stuart Chaussee & Associates Inc. purchased a new position in Alphabet in the fourth quarter valued at about $123,000. Stelac Advisory Services LLC purchased a new stake in shares of Alphabet during the third quarter worth about $126,000. Finally, Lee Financial Co increased its position in shares of Alphabet by 500.0% during the fourth quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock worth $126,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.
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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