Investors Sell Alphabet (GOOG) on Strength on Insider Selling

Traders sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading hours on Wednesday after an insider sold shares in the company. $275.47 million flowed into the stock on the tick-up and $383.49 million flowed out of the stock on the tick-down, for a money net flow of $108.02 million out of the stock. Of all equities tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $10.22 for the day and closed at $1,131.98Specifically, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $1,127.17, for a total value of $4,508,680.00. Following the sale, the chief executive officer now directly owns 656 shares of the company’s stock, valued at $739,423.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Grier Campbell sold 184 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $1,012.66, for a total value of $186,329.44. The disclosure for this sale can be found here. Insiders sold 36,900 shares of company stock worth $38,411,507 over the last three months. Corporate insiders own 13.92% of the company’s stock.

A number of research analysts have recently issued reports on the company. BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. Vetr downgraded Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price target on the stock. in a report on Wednesday, January 10th. Robert W. Baird reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Alphabet in a report on Saturday, September 23rd. JMP Securities reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,052.31.

The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $789,620.00, a PE ratio of 37.71 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results 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 business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.06 earnings per share.

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Alphabet by 3.0% during the second 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 in the last quarter. BlackRock Inc. grew its position in shares of Alphabet by 4.8% during the second 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 in the last quarter. FMR LLC grew its position in shares of Alphabet by 0.4% during the second 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 in the last quarter. Capital World Investors grew its position in shares of Alphabet by 13.9% during the second 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 in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Alphabet by 3.2% during the second quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after purchasing an additional 155,151 shares in the last quarter. Institutional investors and hedge funds own 34.65% of the company’s stock.

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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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