Traders Buy Shares of Alphabet Inc Class A (GOOGL) on Weakness

Investors purchased shares of Alphabet Inc Class A (NASDAQ:GOOGL) on weakness during trading hours on Friday. $400.95 million flowed into the stock on the tick-up and $298.07 million flowed out of the stock on the tick-down, for a money net flow of $102.88 million into the stock. Of all equities tracked, Alphabet Inc Class A had the 7th highest net in-flow for the day. Alphabet Inc Class A traded down ($4.16) for the day and closed at $1,177.98

GOOGL has been the subject of a number of recent analyst reports. Wells Fargo & Co reiterated an “outperform” rating and issued a $1,400.00 target price (up previously from $1,275.00) on shares of Alphabet Inc Class A in a research report on Tuesday, July 24th. B. Riley increased their target price on shares of Alphabet Inc Class A from $1,350.00 to $1,475.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Barclays raised their price objective on shares of Alphabet Inc Class A from $1,250.00 to $1,350.00 and gave the company an “overweight” rating in a research report on Friday, July 13th. Zacks Investment Research upgraded shares of Alphabet Inc Class A from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Credit Suisse Group restated an “outperform” rating and set a $1,375.00 price objective (up previously from $1,330.00) on shares of Alphabet Inc Class A in a research report on Tuesday, July 24th. Five equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,313.72.

The firm has a market capitalization of $815.37 billion, a P/E ratio of 28.61, a PEG ratio of 1.49 and a beta of 1.10. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02.

Alphabet Inc Class A (NASDAQ:GOOGL) last announced its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping the consensus estimate of $9.51 by $2.24. Alphabet Inc Class A had a net margin of 13.16% and a return on equity of 18.24%. The company had revenue of $26.24 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the company posted $5.01 earnings per share. equities research analysts expect that Alphabet Inc Class A will post 42.46 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Alphabet Inc Class A by 0.7% during the second quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock valued at $21,297,919,000 after acquiring an additional 128,040 shares in the last quarter. Summit Trail Advisors LLC raised its position in Alphabet Inc Class A by 134,676.9% during the first quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after acquiring an additional 17,925,496 shares in the last quarter. FMR LLC raised its position in Alphabet Inc Class A by 0.3% during the second quarter. FMR LLC now owns 15,576,039 shares of the information services provider’s stock valued at $17,588,307,000 after acquiring an additional 44,375 shares in the last quarter. Geode Capital Management LLC raised its position in Alphabet Inc Class A by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,285,692 shares of the information services provider’s stock valued at $3,454,154,000 after acquiring an additional 87,329 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Alphabet Inc Class A by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock valued at $3,669,682,000 after acquiring an additional 24,188 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

Alphabet Inc Class A Company Profile (NASDAQ:GOOGL)

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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