Investors Sell Shares of Alphabet (GOOG) on Strength (GOOG)

Traders sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading hours on Monday. $382.05 million flowed into the stock on the tick-up and $562.56 million flowed out of the stock on the tick-down, for a money net flow of $180.51 million out of the stock. Of all stocks tracked, Alphabet had the 3rd highest net out-flow for the day. Alphabet traded up $5.28 for the day and closed at $1,094.80

A number of equities research analysts recently weighed in on GOOG shares. BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. TheStreet downgraded Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. JMP Securities reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Finally, Vetr downgraded Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 target price on the stock. in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirty-six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $1,064.49.

The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The firm has a market capitalization of $761,050.00, a price-to-earnings ratio of 34.11 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). The company had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.36 earnings per share.

Alphabet declared that its Board of Directors has approved a stock repurchase program on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director Ann Mather sold 38 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total value of $38,600.40. Following the transaction, the director now directly owns 1,813 shares of the company’s stock, valued at approximately $1,841,645.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total value of $4,011,440.00. Following the completion of the transaction, the chief executive officer now directly owns 1,178 shares in the company, valued at $1,181,369.08. The disclosure for this sale can be found here. Insiders sold a total of 39,010 shares of company stock worth $41,531,496 over the last three months. 13.92% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GOOG. Stuart Chaussee & Associates Inc. raised its position in Alphabet by 108.3% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after purchasing an additional 52 shares during the last quarter. Burt Wealth Advisors raised its position in 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 purchasing an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its position in 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 purchasing an additional 5 shares during the last quarter. Price Wealth Management Inc. bought a new position in Alphabet in the 4th quarter worth approximately $125,000. Finally, Archford Capital Strategies LLC raised its position in Alphabet by 400.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after purchasing an additional 832 shares during the last quarter. 34.34% 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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