Investors Buy Shares of Alphabet Inc. (GOOGL) on Weakness

Investors purchased shares of Alphabet Inc. (NASDAQ:GOOGL) on weakness during trading on Friday. $283.54 million flowed into the stock on the tick-up and $237.62 million flowed out of the stock on the tick-down, for a money net flow of $45.92 million into the stock. Of all equities tracked, Alphabet had the 14th highest net in-flow for the day. Alphabet traded down ($3.57) for the day and closed at $1,044.15

A number of analysts have recently issued reports on GOOGL shares. Goldman Sachs Group, Inc. (The) boosted their target price on shares of Alphabet from $1,125.00 to $1,175.00 in a research note on Friday, October 27th. Jefferies Group LLC reissued a “buy” rating and set a $1,200.00 target price on shares of Alphabet in a research note on Tuesday, July 25th. Citigroup Inc. boosted their target price on shares of Alphabet from $1,135.00 to $1,180.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. They noted that the move was a valuation call. Deutsche Bank AG reissued a “buy” rating and set a $1,258.00 target price (up from $1,250.00) on shares of Alphabet in a research note on Saturday, July 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,088.53.

The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $725,476.50, a PE ratio of 34.96, a PEG ratio of 1.76 and a beta of 0.91.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.14. The company had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same quarter last year, the firm posted $9.06 EPS. sell-side analysts forecast that Alphabet Inc. will post 32.15 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in shares of Alphabet in the 2nd quarter worth $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Alphabet in the 1st quarter worth $108,000. Parkside Financial Bank & Trust increased its stake in shares of Alphabet by 39.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares during the last quarter. Odey Holdings AG increased its stake in shares of Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares during the last quarter. Finally, Stelac Advisory Services LLC acquired a new stake in shares of Alphabet in the 3rd quarter worth $126,000. 33.87% of the stock is owned by institutional investors and hedge funds.

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About Alphabet

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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