Investors Buy Shares of Alphabet (GOOGL) on Weakness

Traders bought shares of Alphabet Inc (NASDAQ:GOOGL) on weakness during trading on Monday. $313.99 million flowed into the stock on the tick-up and $212.33 million flowed out of the stock on the tick-down, for a money net flow of $101.66 million into the stock. Of all equities tracked, Alphabet had the 11th highest net in-flow for the day. Alphabet traded down ($0.26) for the day and closed at $1,102.12

GOOGL has been the subject of a number of recent research reports. Nomura restated a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a research note on Tuesday, December 4th. ValuEngine upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. MKM Partners reduced their price objective on shares of Alphabet from $1,465.00 to $1,365.00 and set a “buy” rating for the company in a research note on Monday, November 26th. Goldman Sachs Group reduced their price objective on shares of Alphabet from $1,500.00 to $1,300.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Finally, Bank of America reduced their price objective on shares of Alphabet from $1,390.00 to $1,350.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Three equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $1,320.71.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.89 and a current ratio of 3.92. The stock has a market capitalization of $767.12 billion, a PE ratio of 23.20, a P/E/G ratio of 1.33 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $11.08 by $1.69. The firm had revenue of $31.84 billion during the quarter, compared to the consensus estimate of $31.28 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. During the same period last year, the business posted $9.70 earnings per share. As a group, equities research analysts forecast that Alphabet Inc will post 47.38 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Truehand Inc bought a new position in shares of Alphabet during the fourth quarter worth approximately $39,000. Vestor Capital LLC bought a new position in Alphabet in the third quarter valued at approximately $62,000. Mark Sheptoff Financial Planning LLC increased its stake in Alphabet by 44.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 65 shares of the information services provider’s stock valued at $68,000 after acquiring an additional 20 shares during the last quarter. Lavaca Capital LLC bought a new position in Alphabet in the fourth quarter valued at approximately $97,000. Finally, 1 North Wealth Services LLC bought a new position in Alphabet in the fourth quarter valued at approximately $98,000. Hedge funds and other institutional investors own 41.25% of the company’s stock.

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About Alphabet (NASDAQ:GOOGL)

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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