Traders Buy Shares of Alphabet Inc. (GOOG) on Weakness

Traders purchased shares of Alphabet Inc. (NASDAQ:GOOG) on weakness during trading on Thursday. $449.62 million flowed into the stock on the tick-up and $349.88 million flowed out of the stock on the tick-down, for a money net flow of $99.74 million into the stock. Of all equities tracked, Alphabet had the 7th highest net in-flow for the day. Alphabet traded down ($0.77) for the day and closed at $972.56

Several brokerages recently issued reports on GOOG. UBS AG reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday. Barclays PLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday. Wells Fargo & Company reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,036.51.

The company has a market cap of $706.23 billion, a PE ratio of 36.94 and a beta of 0.94. The company has a 50-day moving average price of $957.73 and a 200 day moving average price of $935.53.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a return on equity of 14.59% and a net margin of 20.09%. The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. During the same quarter in the prior year, the company earned $9.06 EPS. Alphabet’s revenue was up 23.7% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post $30.63 EPS for the current year.

In other Alphabet news, Director Ann Mather sold 38 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $959.26, for a total transaction of $36,451.88. Following the transaction, the director now owns 1,797 shares of the company’s stock, valued at approximately $1,723,790.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $993.58, for a total value of $3,974,320.00. Following the transaction, the chief executive officer now directly owns 1,471 shares in the company, valued at approximately $1,461,556.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,169 shares of company stock worth $37,644,407. 13.92% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of 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 during the period. BlackRock Inc. lifted its stake in shares of 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 during the period. FMR LLC lifted its stake in shares of Alphabet by 0.4% during the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after purchasing an additional 62,507 shares during the period. State Street Corp lifted its stake in shares of Alphabet by 0.3% during the 1st quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock worth $10,010,859,000 after purchasing an additional 36,864 shares during the period. Finally, Capital World Investors lifted its stake in shares of 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 during the period. 34.50% of the stock is currently owned by 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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