Traders Sell Shares of Alphabet Inc. (GOOGL) on Strength (GOOGL)

Investors sold shares of Alphabet Inc. (NASDAQ:GOOGL) on strength during trading hours on Friday. $311.46 million flowed into the stock on the tick-up and $355.76 million flowed out of the stock on the tick-down, for a money net flow of $44.30 million out of the stock. Of all companies tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $8.45 for the day and closed at $993.64

Several research analysts have issued reports on GOOGL shares. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,069.98 target price on the stock in a report on Tuesday, June 27th. Societe Generale set a $1,210.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 7th. They noted that the move was a valuation call. SunTrust Banks, Inc. restated a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Saturday, September 23rd. Wells Fargo & Company restated an “outperform” rating and issued a $1,150.00 price target on shares of Alphabet in a report on Saturday, July 22nd. Finally, Zacks Investment Research cut shares of Alphabet from a “hold” rating to a “sell” rating in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $1,057.04.

The firm has a market cap of $688.47 billion, a P/E ratio of 36.01 and a beta of 0.96. The stock has a 50 day moving average of $947.52 and a 200 day moving average of $937.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter in the prior year, the business earned $8.42 EPS. Equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Alphabet by 3.3% during the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after acquiring an additional 662,279 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares during the last quarter. FMR LLC boosted its stake in shares of Alphabet by 2.1% during the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares during the last quarter. State Street Corp boosted its stake in shares of Alphabet by 1.2% during the first quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after acquiring an additional 142,214 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Alphabet by 2.4% during the second quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after acquiring an additional 102,133 shares during the last quarter. 33.85% of the stock is currently owned by institutional investors and hedge funds.

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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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