Investors Sell Alphabet (GOOG) on Strength (GOOG)

Investors sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading on Wednesday. $302.96 million flowed into the stock on the tick-up and $467.22 million flowed out of the stock on the tick-down, for a money net flow of $164.26 million out of the stock. Of all stocks tracked, Alphabet had the 7th highest net out-flow for the day. Alphabet traded up $17.60 for the day and closed at $1,069.70

Several analysts recently commented on GOOG shares. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 20th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,150.00 target price on shares of Alphabet in a report on Thursday, October 19th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, SunTrust Banks lifted their target price on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,061.93.

The company has a market cap of $744,090.00, a PE ratio of 59.56 and a beta of 1.01. 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 (NASDAQ:GOOG) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.07 by ($0.37). The firm had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. Alphabet’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.36 earnings per share.

Alphabet declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In other news, Director Ann Mather sold 38 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total value of $38,600.40. Following the completion of the transaction, the director now directly owns 1,813 shares in the company, valued at approximately $1,841,645.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the completion of the transaction, the chief executive officer now owns 1,178 shares of the company’s stock, valued at $1,181,369.08. The disclosure for this sale can be found here. Insiders sold a total of 27,435 shares of company stock valued at $29,030,612 over the last 90 days. Corporate insiders own 13.92% of the company’s stock.

Several large investors have recently modified their holdings of GOOG. Janus Henderson Group PLC increased its position in Alphabet by 759.0% during the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after purchasing an additional 2,831,099 shares in the last quarter. Koch Industries Inc. increased its position in Alphabet by 214,636.6% during the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after purchasing an additional 1,161,184 shares in the last quarter. BlackRock Inc. increased its position in Alphabet by 4.8% during the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after purchasing an additional 826,480 shares in the last quarter. Capital World Investors increased its position in Alphabet by 13.9% during the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after purchasing an additional 776,853 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Alphabet by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after purchasing an additional 589,654 shares in the last quarter. Institutional investors own 34.46% of the company’s stock.

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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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