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

Investors sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading hours on Monday. $382.05 million flowed into the stock on the tick-up and $562.56 million flowed out of the stock on the tick-down, for a money net flow of $180.51 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $5.28 for the day and closed at $1,094.80

A number of equities analysts have recently commented on GOOG shares. UBS Group reissued a “buy” rating on shares of Alphabet in a research note on Thursday, January 11th. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, October 25th. Morningstar reissued a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research note on Friday, January 12th. Finally, Piper Jaffray Companies raised their target price on shares of Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirty-six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,064.49.

The firm 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 current ratio of 5.14 and a quick ratio of 5.11.

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

Alphabet declared that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $1,002.86, for a total value of $4,011,440.00. Following the completion of the transaction, the chief executive officer now directly owns 1,178 shares of the company’s stock, valued at approximately $1,181,369.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 38 shares of Alphabet stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the completion of the transaction, the director now directly owns 1,813 shares of the company’s stock, valued at $1,841,645.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,010 shares of company stock valued at $41,531,496. 13.92% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of GOOG. Beach Investment Management LLC. acquired a new position in Alphabet during the 2nd quarter valued at about $268,000. Baker Ellis Asset Management LLC boosted its stake in Alphabet by 12.6% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 2,577 shares of the information services provider’s stock valued at $2,342,000 after purchasing an additional 288 shares during the period. AT Bancorp boosted its stake in Alphabet by 2.9% during the 2nd quarter. AT Bancorp now owns 638 shares of the information services provider’s stock valued at $580,000 after purchasing an additional 18 shares during the period. Financial Consulate Inc. boosted its stake in Alphabet by 1.2% during the 2nd quarter. Financial Consulate Inc. now owns 262 shares of the information services provider’s stock valued at $238,000 after purchasing an additional 3 shares during the period. Finally, Palisade Capital Management LLC NJ boosted its stake in Alphabet by 1.8% during the 2nd quarter. Palisade Capital Management LLC NJ now owns 9,771 shares of the information services provider’s stock valued at $8,879,000 after purchasing an additional 169 shares during the period. 34.34% of the stock is owned by institutional investors and hedge funds.

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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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