Traders Buy Alphabet (GOOG) on Weakness

Investors purchased shares of Alphabet Inc. (NASDAQ:GOOG) on weakness during trading hours on Thursday. $579.81 million flowed into the stock on the tick-up and $314.52 million flowed out of the stock on the tick-down, for a money net flow of $265.29 million into the stock. Of all companies tracked, Alphabet had the 2nd highest net in-flow for the day. Alphabet traded down ($0.25) for the day and closed at $1,021.41

Several analysts have recently weighed in on GOOG shares. Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 price objective for the company. in a research report on Wednesday, August 30th. Deutsche Bank reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, October 25th. UBS reaffirmed a “buy” rating and issued a $1,080.00 target price on shares of Alphabet in a report on Monday, September 11th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,047.96.

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 cap of $709,676.69, a P/E ratio of 34.19 and a beta of 0.94.

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

In other news, Director L John Doerr sold 12,236 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $1,021.57, for a total transaction of $12,499,930.52. Following the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $3,560,171.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 38 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the transaction, the director now directly owns 1,813 shares in the company, valued at $1,841,645.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,395 shares of company stock worth $37,941,725. Corporate insiders own 13.92% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Burt Wealth Advisors boosted its position in shares of Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after buying an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its position in shares of Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after buying an additional 5 shares in the last quarter. Farmers National Bank boosted its position in shares of Alphabet by 15.0% in the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after buying an additional 21 shares in the last quarter. Almanack Investment Partners LLC. boosted its position in shares of Alphabet by 4.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after buying an additional 7 shares in the last quarter. Finally, St. Johns Investment Management Company LLC boosted its position in shares of Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after buying an additional 157 shares in the last quarter. 34.73% of the stock is currently owned by institutional investors and hedge funds.

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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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