Traders Buy Alphabet (GOOG) on Weakness

Traders purchased shares of Alphabet Inc (NASDAQ:GOOG) on weakness during trading on Friday. $484.89 million flowed into the stock on the tick-up and $369.93 million flowed out of the stock on the tick-down, for a money net flow of $114.96 million into the stock. Of all stocks tracked, Alphabet had the 5th highest net in-flow for the day. Alphabet traded down ($13.14) for the day and closed at $1,057.19

GOOG has been the topic of several research reports. BidaskClub raised Alphabet from a “strong sell” rating to a “sell” rating in a report on Thursday, December 13th. Barclays reissued a “buy” rating on shares of Alphabet in a report on Friday, October 26th. DZ Bank reissued a “buy” rating on shares of Alphabet in a report on Thursday, October 18th. ValuEngine downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Friday, September 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirty have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,301.81.

The stock has a market capitalization of $747.83 billion, a price-to-earnings ratio of 24.18 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.14 and a quick ratio of 4.10.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The firm had revenue of $27.16 billion for the quarter.

In related news, Director Ann Mather sold 194 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $1,120.68, for a total transaction of $217,411.92. Following the transaction, the director now directly owns 1,797 shares in the company, valued at $2,013,861.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $1,113.91, for a total value of $11,139,100.00. Following the transaction, the chief executive officer now owns 532 shares in the company, valued at $592,600.12. The disclosure for this sale can be found here. Insiders have sold 83,720 shares of company stock worth $88,447,943 over the last quarter. 13.11% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Garner Asset Management Corp raised its holdings in shares of Alphabet by 27.8% in the 3rd quarter. Garner Asset Management Corp now owns 993 shares of the information services provider’s stock worth $1,185,000 after purchasing an additional 216 shares during the period. Rice Partnership LLC raised its holdings in shares of Alphabet by 21.7% in the 2nd quarter. Rice Partnership LLC now owns 544 shares of the information services provider’s stock worth $607,000 after purchasing an additional 97 shares during the period. Pinnacle Financial Partners Inc. raised its holdings in shares of Alphabet by 8.6% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 2,132 shares of the information services provider’s stock worth $2,378,000 after purchasing an additional 168 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Alphabet by 1.4% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 372,379 shares of the information services provider’s stock worth $415,444,000 after purchasing an additional 5,209 shares during the period. Finally, Schmidt P J Investment Management Inc. grew its stake in shares of Alphabet by 1.5% in the third quarter. Schmidt P J Investment Management Inc. now owns 5,166 shares of the information services provider’s stock valued at $6,165,000 after buying an additional 78 shares in the last quarter. Institutional investors own 36.93% of the company’s stock.

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About Alphabet (NASDAQ:GOOG)

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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