Investors Buy Alphabet (GOOG) on Weakness

Investors bought shares of Alphabet Inc (NASDAQ:GOOG) on weakness during trading hours on Wednesday. $321.00 million flowed into the stock on the tick-up and $243.93 million flowed out of the stock on the tick-down, for a money net flow of $77.07 million into the stock. Of all companies tracked, Alphabet had the 14th highest net in-flow for the day. Alphabet traded down ($3.65) for the day and closed at $1,102.61

Several research analysts have recently commented on GOOG shares. Deutsche Bank restated a “buy” rating on shares of Alphabet in a research note on Wednesday, October 25th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,067.64 price target on the stock. in a research note on Monday, November 20th. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Friday, October 20th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,044.41.

The firm has a market capitalization of $768,340.00, a price-to-earnings ratio of 36.73 and a beta of 0.94. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.

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

In related news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total transaction of $186,149.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $1,065.21, for a total transaction of $4,260,840.00. Following the transaction, the chief executive officer now directly owns 1,031 shares of the company’s stock, valued at $1,098,231.51. The disclosure for this sale can be found here. Insiders have sold a total of 36,900 shares of company stock valued at $37,877,147 over the last ninety days. 13.92% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Capital Investment Advisory Services LLC raised its stake in shares of Alphabet by 0.4% in the second quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after acquiring an additional 1 shares during the last quarter. Capital Advantage Inc. raised its stake in shares of Alphabet by 0.4% in the second quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after acquiring an additional 1 shares during the last quarter. Foster & Motley Inc. raised its stake in shares of Alphabet by 0.8% in the second quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock worth $241,000 after acquiring an additional 2 shares during the last quarter. Saratoga Research & Investment Management raised its stake in shares of Alphabet by 1.2% in the second quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock worth $234,000 after acquiring an additional 3 shares during the last quarter. Finally, Edge Wealth Management LLC raised its stake in shares of Alphabet by 0.9% in the second quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock worth $309,000 after acquiring an additional 3 shares during the last quarter. 34.63% of the stock is owned by hedge funds and other 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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