Traders Sell Shares of Alphabet (GOOG) on Strength (GOOG)

Traders sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading hours on Tuesday. $310.93 million flowed into the stock on the tick-up and $418.76 million flowed out of the stock on the tick-down, for a money net flow of $107.83 million out of the stock. Of all stocks tracked, Alphabet had the 3rd highest net out-flow for the day. Alphabet traded up $7.66 for the day and closed at $1,102.46

A number of research analysts have issued reports on the company. TheStreet downgraded Alphabet from an “a” rating to a “c+” rating in a research note on Thursday, February 1st. BidaskClub downgraded Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 5th. Stifel Nicolaus restated a “neutral” rating on shares of Alphabet in a research note on Friday, February 2nd. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,054.53 price target for the company in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-six have issued a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,064.49.

The stock has a market cap of $766,380.00, a price-to-earnings ratio of 34.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. During the same period in the previous year, the business earned $9.36 EPS. The business’s revenue was up 24.0% on a year-over-year basis.

Alphabet announced that its board has authorized a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total value of $4,011,440.00. Following the sale, the chief executive officer now owns 1,178 shares of the company’s stock, valued at approximately $1,181,369.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 38 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total value of $38,600.40. Following the completion of the sale, the director now directly owns 1,813 shares in the company, valued at approximately $1,841,645.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,010 shares of company stock worth $41,531,496. Insiders own 13.92% of the company’s stock.

Several large investors have recently added to or reduced their stakes in GOOG. Stuart Chaussee & Associates Inc. raised its holdings in shares of Alphabet by 108.3% during 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. Burt Wealth Advisors raised its holdings in shares of Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after buying an additional 5 shares in the last quarter. Price Wealth Management Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at about $125,000. Finally, Archford Capital Strategies LLC raised its holdings in shares of Alphabet by 400.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after buying an additional 832 shares in the last quarter. 34.34% of the stock is currently owned by hedge funds and other institutional investors.

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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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