Traders Sell Alphabet (GOOGL) on Strength (GOOGL)

Traders sold shares of Alphabet Inc (NASDAQ:GOOGL) on strength during trading hours on Friday. $272.20 million flowed into the stock on the tick-up and $375.86 million flowed out of the stock on the tick-down, for a money net flow of $103.66 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $18.19 for the day and closed at $1,128.09

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 price objective on the stock in a report on Monday, January 29th. Deutsche Bank reiterated a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a report on Monday, January 29th. Morgan Stanley reissued an “overweight” rating and issued a $1,215.00 target price (up previously from $1,210.00) on shares of Alphabet in a research report on Friday, January 26th. Monness Crespi & Hardt reissued a “buy” rating and issued a $1,250.00 target price (up previously from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Finally, Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,243.88 target price on the stock in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average price target of $1,161.00.

The stock has a market cap of $783,777.75, a PE ratio of 62.81, a price-to-earnings-growth ratio of 1.17 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. sell-side analysts expect that Alphabet Inc will post 42.52 EPS for the current year.

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

Several hedge funds and other institutional investors have recently modified their holdings of GOOGL. First Bank & Trust boosted its stake in Alphabet by 0.3% in the 2nd quarter. First Bank & Trust now owns 764 shares of the information services provider’s stock valued at $710,000 after purchasing an additional 2 shares during the period. Fort Pitt Capital Group LLC boosted its stake in Alphabet by 0.3% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 723 shares of the information services provider’s stock valued at $672,000 after purchasing an additional 2 shares during the period. Glassman Wealth Services boosted its stake in Alphabet by 0.8% in the 2nd quarter. Glassman Wealth Services now owns 376 shares of the information services provider’s stock valued at $350,000 after purchasing an additional 3 shares during the period. Capital Counsel LLC NY boosted its stake in Alphabet by 0.7% in the 2nd quarter. Capital Counsel LLC NY now owns 602 shares of the information services provider’s stock valued at $560,000 after purchasing an additional 4 shares during the period. Finally, GM Advisory Group Inc. boosted its stake in Alphabet by 0.4% in the 2nd quarter. GM Advisory Group Inc. now owns 905 shares of the information services provider’s stock valued at $841,000 after purchasing an additional 4 shares during the period. Institutional investors own 33.29% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Traders Sell Alphabet (GOOGL) on Strength (GOOGL)” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.dispatchtribunal.com/2018/02/25/traders-sell-alphabet-googl-on-strength-googl-3.html.

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.

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply