Investors Buy Alphabet (GOOG) on Weakness

Investors bought shares of Alphabet Inc. (NASDAQ:GOOG) on weakness during trading on Wednesday. $338.05 million flowed into the stock on the tick-up and $270.15 million flowed out of the stock on the tick-down, for a money net flow of $67.90 million into the stock. Of all equities tracked, Alphabet had the 9th highest net in-flow for the day. Alphabet traded down ($2.08) for the day and closed at $1,072.08

A number of research analysts recently commented on GOOG shares. Deutsche Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, January 29th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. Goldman Sachs reissued a “buy” rating on shares of Alphabet in a research report on Thursday, January 25th. UBS reissued a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. Finally, SunTrust Banks boosted their target price on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $1,088.68.

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The company has a market cap of $721,170.88, a P/E ratio of 33.45 and a beta of 1.08. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released 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 $10.07 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%. Alphabet’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.36 earnings per share.

Alphabet declared that its board has approved a stock buyback plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $993.80, for a total transaction of $3,975,200.00. Following the completion of the transaction, the chief executive officer now directly owns 940 shares in the company, valued at approximately $934,172. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $1,164.43, for a total transaction of $6,625,606.70. Following the transaction, the senior vice president now owns 2,897 shares of the company’s stock, valued at $3,373,353.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,410 shares of company stock valued at $54,097,456. Corporate insiders own 13.92% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. raised its stake in shares of Alphabet by 108.3% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after buying an additional 52 shares in the last quarter. Price Wealth Management Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $125,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $132,000. WealthShield LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $144,000. Finally, Earnest Partners LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $148,000. Institutional investors own 34.84% of the company’s stock.

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Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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