Traders bought shares of Alphabet Inc (NASDAQ:GOOG) on weakness during trading on Wednesday after an insider sold shares in the company. $471.84 million flowed into the stock on the tick-up and $382.54 million flowed out of the stock on the tick-down, for a money net flow of $89.30 million into the stock. Of all equities tracked, Alphabet had the 6th highest net in-flow for the day. Alphabet traded down ($6.83) for the day and closed at $1,090.88Specifically, Director Ann Mather sold 37 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $1,107.87, for a total value of $40,991.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $1,092.73, for a total transaction of $4,370,920.00. Following the completion of the transaction, the chief executive officer now directly owns 628 shares in the company, valued at $686,234.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,709 shares of company stock worth $53,035,301. Insiders own 13.92% of the company’s stock.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. TheStreet downgraded shares of Alphabet from an “a” rating to a “c+” rating in a research note on Thursday, February 1st. Vetr downgraded shares of Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 target price on the stock. in a research note on Wednesday, January 10th. Deutsche Bank reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, January 29th. Finally, Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price on the stock. in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,073.56.
The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $757,924.88, a price-to-earnings ratio of 58.41 and a beta of 1.04.
Alphabet (NASDAQ:GOOG) last announced 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 business had revenue of $32.32 billion during 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 company’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter last year, the firm posted $9.36 EPS.
Alphabet declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several hedge funds have recently made changes to their positions in GOOG. Stuart Chaussee & Associates Inc. grew its holdings in Alphabet by 108.3% during the 4th 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 in the last quarter. Burt Wealth Advisors grew its holdings in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after acquiring an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in Alphabet by 3.8% during the 2nd 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 in the last quarter. Price Wealth Management Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $125,000. Finally, Archford Capital Strategies LLC grew its holdings in Alphabet by 400.0% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 34.84% of the company’s stock.
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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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