Investors Buy Alphabet (GOOG) on Weakness

Investors purchased shares of Alphabet Inc (NASDAQ:GOOG) on weakness during trading hours on Wednesday. $321.00 million flowed into the stock on the tick-up and $243.93 million flowed out of the stock on the tick-down, for a money net flow of $77.07 million into the stock. Of all equities tracked, Alphabet had the 14th highest net in-flow for the day. Alphabet traded down ($3.65) for the day and closed at $1,102.61

GOOG has been the topic of a number of research reports. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 20th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 6th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $1,150.00 price target on shares of Alphabet in a research note on Thursday, October 19th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $1,044.41.

The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $768,340.00, a PE ratio of 36.73 and a beta of 0.94.

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

In other Alphabet news, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total value of $186,149.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $993.58, for a total transaction of $3,974,320.00. Following the completion of the transaction, the chief executive officer now owns 1,471 shares in the company, valued at $1,461,556.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,900 shares of company stock worth $37,877,147. Corporate insiders own 13.92% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. CNA Financial Corp acquired a new position in shares of Alphabet in the first quarter valued at about $2,281,000. HighTower Advisors LLC grew its stake in shares of Alphabet by 13.6% in the first quarter. HighTower Advisors LLC now owns 39,911 shares of the information services provider’s stock valued at $32,994,000 after acquiring an additional 4,769 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Alphabet by 0.7% in the first quarter. Harbour Capital Advisors LLC now owns 2,289 shares of the information services provider’s stock valued at $1,899,000 after acquiring an additional 15 shares in the last quarter. Green Square Capital LLC grew its stake in shares of Alphabet by 13.7% in the first quarter. Green Square Capital LLC now owns 1,751 shares of the information services provider’s stock valued at $1,452,000 after acquiring an additional 211 shares in the last quarter. Finally, Bath Savings Trust Co acquired a new position in shares of Alphabet in the second quarter valued at about $226,000. Hedge funds and other institutional investors own 34.63% 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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