Traders Buy Alphabet Inc. (GOOG) on Weakness Following Insider Selling

Traders bought shares of Alphabet Inc. (NASDAQ:GOOG) on weakness during trading on Friday following insider selling activity. $204.76 million flowed into the stock on the tick-up and $157.79 million flowed out of the stock on the tick-down, for a money net flow of $46.97 million into the stock. Of all equities tracked, Alphabet had the 13th highest net in-flow for the day. Alphabet traded down ($3.19) for the day and closed at $1,028.07Specifically, Director Ann Mather sold 38 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $1,017.21, for a total value of $38,653.98. Following the completion of the transaction, the director now owns 1,805 shares of the company’s stock, valued at approximately $1,836,064.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director L John Doerr sold 13,556 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total value of $12,500,665.40. Following the completion of the sale, the director now owns 3,485 shares in the company, valued at $3,213,692.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,714 shares of company stock valued at $39,425,705. Insiders own 13.92% of the company’s stock.

Several equities research analysts have recently weighed in on GOOG shares. Cowen and Company reiterated an “outperform” rating and issued a $1,075.00 price objective on shares of Alphabet in a research note on Thursday, August 10th. UBS AG reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Wells Fargo & Company reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research note on Monday, July 17th. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,045.44.

The company has a market capitalization of $716,520.50, a price-to-earnings ratio of 34.53 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. Alphabet’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter last year, the company earned $9.06 EPS.

Several hedge funds and other institutional investors have recently made changes to their positions in GOOG. Janus Henderson Group PLC grew its holdings in shares of Alphabet by 759.0% in the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock valued at $2,911,734,000 after acquiring an additional 2,831,099 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Alphabet by 87,001.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock valued at $2,194,000 after acquiring an additional 1,991,465 shares in the last quarter. Koch Industries Inc. grew its holdings in shares of Alphabet by 214,636.6% in the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock valued at $1,160,000 after acquiring an additional 1,161,184 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after acquiring an additional 826,480 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after acquiring an additional 776,853 shares in the last quarter. Institutional investors own 34.50% of the company’s stock.

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About Alphabet

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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