Traders Buy Alphabet (GOOGL) on Weakness

Investors purchased shares of Alphabet Inc (NASDAQ:GOOGL) on weakness during trading on Friday. $494.45 million flowed into the stock on the tick-up and $417.85 million flowed out of the stock on the tick-down, for a money net flow of $76.60 million into the stock. Of all companies tracked, Alphabet had the 9th highest net in-flow for the day. Alphabet traded down ($11.10) for the day and closed at $1,025.07

A number of equities research analysts have recently commented on GOOGL shares. Vetr raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,027.27 price objective on the stock in a research note on Monday, November 6th. Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Citigroup reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, October 30th. Stifel Nicolaus raised their price objective on shares of Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $990.00 price objective on shares of Alphabet in a research note on Sunday, October 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $1,088.53.

The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The company has a market cap of $712,219.63, a P/E ratio of 34.32, a PEG ratio of 1.72 and a beta of 0.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same quarter in the previous year, the firm earned $9.06 EPS. equities analysts forecast that Alphabet Inc will post 32.34 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Shelton Capital Management increased its stake in Alphabet by 7.6% during the third 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 during the period. Steward Partners Investment Advisory LLC purchased a new stake in Alphabet during the third quarter worth about $17,803,000. Public Employees Retirement System of Ohio increased its stake in Alphabet by 0.6% during the third 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 during the period. Hartline Investment Corp increased its stake in Alphabet by 13.7% during the third 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 during the period. Finally, Crestwood Advisors Group LLC increased its stake in Alphabet by 0.9% during the third 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 during the period. Institutional investors and hedge funds 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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