Traders Sell Alphabet Inc. (GOOGL) on Strength (GOOGL)
Traders sold shares of Alphabet Inc. (NASDAQ:GOOGL) on strength during trading hours on Friday. $169.10 million flowed into the stock on the tick-up and $290.85 million flowed out of the stock on the tick-down, for a money net flow of $121.75 million out of the stock. Of all stocks tracked, Alphabet had the highest net out-flow for the day. Alphabet traded up $4.60 for the day and closed at $1,056.52
Several equities analysts have recently issued reports on the company. CIBC reiterated an “outperform” rating and issued a $1,180.00 price target (up previously from $1,050.00) on shares of Alphabet in a research note on Friday, October 27th. Pivotal Research reiterated a “hold” rating and issued a $970.00 price target on shares of Alphabet in a research note on Friday, October 13th. UBS AG reiterated a “buy” rating and issued a $1,080.00 price target on shares of Alphabet in a research note on Friday, September 8th. Citigroup Inc. reiterated a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Alphabet in a research note on Saturday, August 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,088.53.
The company has a market cap of $730,875.13, a price-to-earnings ratio of 35.22, a P/E/G ratio of 1.77 and a beta of 0.91. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The firm had revenue of $22.27 billion for the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same period in the previous year, the business earned $9.06 EPS. equities analysts forecast that Alphabet Inc. will post 32.34 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Novare Capital Management LLC raised its stake in Alphabet by 0.9% during the 2nd quarter. Novare Capital Management LLC now owns 8,590 shares of the information services provider’s stock worth $7,986,000 after buying an additional 80 shares during the period. Camelot Portfolios LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $211,000. Country Trust Bank acquired a new position in Alphabet during the 2nd quarter worth approximately $44,071,000. Girard Partners LTD. raised its stake in Alphabet by 10.7% during the 1st quarter. Girard Partners LTD. now owns 4,528 shares of the information services provider’s stock worth $3,839,000 after buying an additional 439 shares during the period. Finally, Anchor Capital Advisors LLC raised its stake in Alphabet by 3.0% during the 2nd quarter. Anchor Capital Advisors LLC now owns 378 shares of the information services provider’s stock worth $351,000 after buying an additional 11 shares during the period. 33.68% of the stock is currently owned by hedge funds and other institutional investors.
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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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