Traders Sell Alphabet (GOOG) on Strength (GOOG)

Traders sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading hours on Thursday. $275.35 million flowed into the stock on the tick-up and $412.41 million flowed out of the stock on the tick-down, for a money net flow of $137.06 million out of the stock. Of all stocks tracked, Alphabet had the 9th highest net out-flow for the day. Alphabet traded up $14.15 for the day and closed at $1,194.64

A number of brokerages have issued reports on GOOG. Raymond James reissued an “outperform” rating and issued a $1,405.00 target price (up previously from $1,240.00) on shares of Alphabet in a research report on Tuesday, July 24th. Macquarie reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday. Oppenheimer upped their price objective on Alphabet from $1,350.00 to $1,450.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 24th. BidaskClub lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, July 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus target price of $1,289.09.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15. The company has a market capitalization of $824.45 billion, a P/E ratio of 28.93 and a beta of 1.11.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping analysts’ consensus estimates of $9.66 by $2.09. The firm had revenue of $32.66 billion during the quarter, compared to the consensus estimate of $32.13 billion. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.01 earnings per share.

In related news, CEO Sundar Pichai sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $1,160.42, for a total transaction of $11,604,200.00. Following the completion of the transaction, the chief executive officer now owns 546 shares in the company, valued at $633,589.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 24 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $1,100.00, for a total transaction of $26,400.00. Following the transaction, the director now owns 1,870 shares of the company’s stock, valued at approximately $2,057,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,362 shares of company stock valued at $105,424,908. Insiders own 13.11% of the company’s stock.

Several hedge funds have recently modified their holdings of GOOG. HC Financial Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at $1,156,000. Marathon Trading Investment Management LLC boosted its stake in Alphabet by 62.5% in the fourth quarter. Marathon Trading Investment Management LLC now owns 1,300 shares of the information services provider’s stock valued at $1,360,000 after acquiring an additional 500 shares in the last quarter. Empire Life Investments Inc. boosted its stake in Alphabet by 17.2% in the fourth quarter. Empire Life Investments Inc. now owns 22,486 shares of the information services provider’s stock valued at $23,529,000 after acquiring an additional 3,308 shares in the last quarter. Earnest Partners LLC acquired a new position in Alphabet in the fourth quarter valued at $148,000. Finally, Captrust Financial Advisors acquired a new position in Alphabet in the fourth quarter valued at $9,117,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.

About Alphabet (NASDAQ:GOOG)

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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