Investors Buy Shares of Alphabet (GOOG) on Weakness After Insider Selling

Investors purchased shares of Alphabet Inc (NASDAQ:GOOG) on weakness during trading on Thursday following insider selling activity. $438.07 million flowed into the stock on the tick-up and $301.79 million flowed out of the stock on the tick-down, for a money net flow of $136.28 million into the stock. Of all equities tracked, Alphabet had the 2nd highest net in-flow for the day. Alphabet traded down ($4.71) for the day and closed at $1,106.63Specifically, Director L John Doerr sold 11,575 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $1,079.99, for a total transaction of $12,500,884.25. Following the completion of the sale, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $3,763,765.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $1,106.68, for a total transaction of $4,426,720.00. Following the sale, the chief executive officer now directly owns 642 shares of the company’s stock, valued at $710,488.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,010 shares of company stock valued at $45,958,216. Insiders own 13.92% of the company’s stock.

A number of analysts recently weighed in on GOOG shares. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Macquarie reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have issued a buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,064.49.

The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. The stock has a market cap of $769,860.00, a PE ratio of 34.47 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. During the same period in the previous year, the business posted $9.36 EPS. The business’s revenue for the quarter was up 24.0% on a year-over-year basis.

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

Hedge funds have recently modified their holdings of the company. Stuart Chaussee & Associates Inc. raised its stake in Alphabet by 108.3% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after acquiring an additional 52 shares during the period. Burt Wealth Advisors raised its stake in Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after acquiring an additional 20 shares during the period. Signature Estate & Investment Advisors LLC raised its stake in Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares during the period. Price Wealth Management Inc. acquired a new stake in Alphabet during the fourth quarter worth about $125,000. Finally, Archford Capital Strategies LLC raised its stake in Alphabet by 400.0% during the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after acquiring an additional 832 shares during the period. 34.34% of the stock is currently owned by institutional investors and hedge funds.

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About Alphabet

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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