Investors Buy Shares of Alphabet (GOOG) on Weakness

Traders purchased shares of Alphabet Inc (NASDAQ:GOOG) on weakness during trading on Monday. $543.48 million flowed into the stock on the tick-up and $472.62 million flowed out of the stock on the tick-down, for a money net flow of $70.86 million into the stock. Of all stocks tracked, Alphabet had the 9th highest net in-flow for the day. Alphabet traded down ($8.38) for the day and closed at $1,148.97

GOOG has been the subject of several recent analyst reports. Macquarie restated a “buy” rating on shares of Alphabet in a research note on Thursday, September 27th. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 26th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Tuesday, August 7th. Goldman Sachs Group restated a “$1,186.96” rating on shares of Alphabet in a research note on Thursday, July 19th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $1,400.00 target price on shares of Alphabet in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,311.71.

The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $830.59 billion, a P/E ratio of 29.15 and a beta of 1.11.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping the consensus estimate of $9.66 by $2.09. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $32.66 billion for the quarter, compared to analysts’ expectations of $32.13 billion. During the same quarter last year, the company posted $5.01 earnings per share. The company’s quarterly revenue was up 25.6% compared to the same quarter last year.

In other Alphabet news, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $1,198.47, for a total value of $11,984,700.00. Following the transaction, the chief executive officer now owns 574 shares of the company’s stock, valued at $687,921.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of the firm’s stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $1,167.38, for a total transaction of $6,642,392.20. Following the completion of the transaction, the senior vice president now directly owns 41,234 shares in the company, valued at approximately $48,135,746.92. The disclosure for this sale can be found here. Insiders have sold 88,370 shares of company stock worth $106,307,067 in the last ninety days. Corporate insiders own 13.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Smart Portfolios LLC bought a new stake in shares of Alphabet during the first quarter valued at approximately $103,000. Braun Bostich & Associates Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $107,000. Litman Gregory Asset Management LLC bought a new stake in shares of Alphabet during the first quarter valued at approximately $113,000. JJJ Advisors Inc. bought a new stake in shares of Alphabet during the second quarter valued at approximately $134,000. Finally, ELM Advisors LLC bought a new stake in shares of Alphabet during the third quarter valued at approximately $138,000. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Company Profile (NASDAQ:GOOG)

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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