Investors Buy Shares of Alphabet (GOOGL) on Weakness

Investors purchased shares of Alphabet Inc. (NASDAQ:GOOGL) on weakness during trading on Wednesday. $476.78 million flowed into the stock on the tick-up and $329.98 million flowed out of the stock on the tick-down, for a money net flow of $146.80 million into the stock. Of all companies tracked, Alphabet had the highest net in-flow for the day. Alphabet traded down ($3.97) for the day and closed at $1,075.39

GOOGL has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price objective for the company in a research report on Tuesday, December 26th. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,120.76 price objective for the company in a research report on Tuesday, December 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $1,150.00 price objective on shares of Alphabet in a research report on Tuesday, January 2nd. Cowen upped their price objective on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $1,250.00 price objective on shares of Alphabet in a research report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,172.65.

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The firm has a market capitalization of $747,162.75, a P/E ratio of 33.99, a P/E/G ratio of 1.15 and a beta of 1.05. 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:GOOGL) last released its quarterly earnings data 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). The business had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. equities analysts predict that Alphabet Inc. will post 41.18 EPS for the current year.

Alphabet announced that its board has initiated a stock buyback program on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gardiner Nancy B raised its position in shares of Alphabet by 5.4% during the 3rd quarter. Gardiner Nancy B now owns 1,450 shares of the information services provider’s stock valued at $1,412,000 after buying an additional 74 shares in the last quarter. Saratoga Research & Investment Management raised its position in shares of Alphabet by 7.1% during the 4th quarter. Saratoga Research & Investment Management now owns 27,449 shares of the information services provider’s stock valued at $28,915,000 after buying an additional 1,808 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its position in shares of Alphabet by 1,908.0% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 8,333 shares of the information services provider’s stock valued at $8,114,000 after buying an additional 7,918 shares in the last quarter. Alta Capital Management LLC raised its position in shares of Alphabet by 0.7% during the 3rd quarter. Alta Capital Management LLC now owns 76,365 shares of the information services provider’s stock valued at $74,358,000 after buying an additional 528 shares in the last quarter. Finally, Broderick Brian C raised its position in shares of Alphabet by 1.3% during the 3rd quarter. Broderick Brian C now owns 7,796 shares of the information services provider’s stock valued at $7,592,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 34.38% of the company’s stock.

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About Alphabet

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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