Investors Sell Alphabet (GOOGL) on Strength (GOOGL)
Investors sold shares of Alphabet Inc (NASDAQ:GOOGL) on strength during trading on Friday. $318.48 million flowed into the stock on the tick-up and $416.65 million flowed out of the stock on the tick-down, for a money net flow of $98.17 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $4.81 for the day and closed at $1,049.38
Several equities research analysts have recently commented on GOOGL shares. SunTrust Banks reissued a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research report on Saturday, September 23rd. Cantor Fitzgerald reissued a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research report on Tuesday, October 24th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 target price for the company. in a research report on Friday, October 6th. Finally, Citigroup reissued a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a research report on Tuesday, October 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and an average price target of $1,089.17.
The company has a market capitalization of $729,110.31, a PE ratio of 35.13, a price-to-earnings-growth ratio of 1.76 and a beta of 0.89. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. During the same period in the prior year, the firm earned $9.06 EPS. analysts predict that Alphabet Inc will post 32.34 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Shelton Capital Management lifted its stake in Alphabet by 7.6% in the 3rd quarter. Shelton Capital Management now owns 24,828 shares of the information services provider’s stock worth $24,176,000 after purchasing an additional 1,754 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Alphabet in the 3rd quarter worth approximately $17,803,000. Public Employees Retirement System of Ohio lifted its stake in Alphabet by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 214,898 shares of the information services provider’s stock worth $209,250,000 after purchasing an additional 1,377 shares in the last quarter. Hartline Investment Corp lifted its stake in Alphabet by 13.7% in the 3rd quarter. Hartline Investment Corp now owns 8,981 shares of the information services provider’s stock worth $8,745,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its stake in Alphabet by 0.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 26,954 shares of the information services provider’s stock worth $26,246,000 after purchasing an additional 248 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.
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Alphabet Company Profile
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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