Traders Sell Shares of Alphabet (GOOGL) on Strength (GOOGL)

Traders sold shares of Alphabet Inc (NASDAQ:GOOGL) on strength during trading hours on Monday. $337.06 million flowed into the stock on the tick-up and $394.77 million flowed out of the stock on the tick-down, for a money net flow of $57.71 million out of the stock. Of all companies tracked, Alphabet had the 15th highest net out-flow for the day. Alphabet traded up $3.80 for the day and closed at $1,226.53

GOOGL has been the topic of several research analyst reports. ValuEngine cut shares of Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. SunTrust Banks decreased their price target on shares of Alphabet to $1,350.00 and set a “buy” rating on the stock in a report on Tuesday, February 5th. They noted that the move was a valuation call. Deutsche Bank reissued a “buy” rating and issued a $1,300.00 target price on shares of Alphabet in a research note on Wednesday, January 23rd. Needham & Company LLC began coverage on Alphabet in a research note on Monday, March 4th. They issued a “buy” rating and a $1,153.42 target price on the stock. Finally, Wells Fargo & Co set a $1,300.00 target price on Alphabet and gave the company a “buy” rating in a research note on Tuesday, February 5th. Two research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,324.14.

The company has a current ratio of 3.92, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. The stock has a market cap of $850.03 billion, a PE ratio of 25.82, a PEG ratio of 1.42 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.08 by $1.69. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The business had revenue of $31.84 billion during the quarter, compared to analyst estimates of $31.28 billion. During the same period in the prior year, the business posted $9.70 earnings per share. Analysts forecast that Alphabet Inc will post 47.39 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of GOOGL. MUFG Securities EMEA plc lifted its holdings in Alphabet by 82,484.5% in the fourth quarter. MUFG Securities EMEA plc now owns 63,262,221 shares of the information services provider’s stock worth $66,106,490,000 after buying an additional 63,185,618 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Alphabet by 103,543.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,899,064 shares of the information services provider’s stock worth $53,000 after buying an additional 54,846,095 shares during the period. FMR LLC lifted its holdings in Alphabet by 5.5% in the third quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock worth $19,837,909,000 after buying an additional 858,589 shares during the period. Norges Bank purchased a new stake in Alphabet in the fourth quarter worth about $4,071,353,000. Finally, Geode Capital Management LLC lifted its holdings in Alphabet by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 3,825,248 shares of the information services provider’s stock worth $3,990,173,000 after buying an additional 252,414 shares during the period. Institutional investors and hedge funds own 33.99% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Traders Sell Shares of Alphabet (GOOGL) on Strength (GOOGL)” was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.chaffeybreeze.com/2019/04/15/traders-sell-shares-of-alphabet-googl-on-strength-googl-2.html.

Alphabet Company Profile (NASDAQ:GOOGL)

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.

See Also: Why do companies engage in swaps?

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.