Traders Sell Alphabet (GOOG) on Strength After Insider Selling

Traders sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading on Thursday following insider selling activity. $235.05 million flowed into the stock on the tick-up and $296.25 million flowed out of the stock on the tick-down, for a money net flow of $61.20 million out of the stock. Of all companies tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $3.92 for the day and closed at $1,086.40Specifically, Director Ann Mather sold 38 shares of Alphabet stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total value of $38,653.98. Following the sale, the director now directly owns 1,805 shares in the company, valued at approximately $1,836,064.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $993.58, for a total transaction of $3,974,320.00. Following the completion of the sale, the chief executive officer now owns 1,471 shares in the company, valued at $1,461,556.18. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock worth $37,877,147 over the last quarter. Company insiders own 13.92% of the company’s stock.

A number of research analysts have recently commented on GOOG shares. Wells Fargo & Co reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. UBS Group reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Societe Generale reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,065.12 price objective for the company. in a research report on Thursday, December 7th. Finally, Oppenheimer reissued an “outperform” rating on shares of Alphabet in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-eight have given a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,046.04.

The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The firm has a market capitalization of $757,970.00, a price-to-earnings ratio of 36.19 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.31 by $1.26. The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.06 EPS.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Trust Group LLC raised its position in shares of Alphabet by 2.5% in the 3rd quarter. Atlantic Trust Group LLC now owns 376,654 shares of the information services provider’s stock valued at $361,252,000 after buying an additional 9,303 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Alphabet by 5.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 589,536 shares of the information services provider’s stock valued at $565,430,000 after buying an additional 30,522 shares in the last quarter. AXA raised its position in shares of Alphabet by 6.7% in the 3rd quarter. AXA now owns 267,724 shares of the information services provider’s stock valued at $256,777,000 after buying an additional 16,752 shares in the last quarter. Shelton Capital Management raised its position in shares of Alphabet by 8.3% in the 3rd quarter. Shelton Capital Management now owns 25,159 shares of the information services provider’s stock valued at $24,130,000 after buying an additional 1,929 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Alphabet by 17.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 528 shares of the information services provider’s stock valued at $506,000 after buying an additional 78 shares in the last quarter. 34.63% of the stock is owned by hedge funds and other institutional investors.

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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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