Traders bought shares of Alphabet Inc. (NASDAQ:GOOG) on weakness during trading hours on Friday following insider selling activity. $335.15 million flowed into the stock on the tick-up and $233.57 million flowed out of the stock on the tick-down, for a money net flow of $101.58 million into the stock. Of all stocks tracked, Alphabet had the 4th highest net in-flow for the day. Alphabet traded down ($0.31) for the day and closed at $786.90Specifically, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $775.34, for a total transaction of $3,101,360.00. Following the completion of the sale, the chief executive officer now directly owns 3,003 shares in the company, valued at $2,328,346.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sergey Brin sold 33,332 shares of Alphabet stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $673.30, for a total transaction of $22,442,435.60. Following the sale, the insider now owns 16,666 shares of the company’s stock, valued at $11,221,217.80. The disclosure for this sale can be found here. Company insiders own 13.92% of the company’s stock.
A number of brokerages have recently commented on GOOG. Credit Agricole SA reiterated a “buy” rating on shares of Alphabet in a report on Friday. Credit Suisse Group AG reiterated an “outperform” rating and set a $940.00 price target (up from $920.00) on shares of Alphabet in a report on Friday, July 29th. Evercore ISI reiterated a “buy” rating and set a $830.00 price target (down from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Atlantic Securities set a $910.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $760.24 price target for the company in a report on Monday, June 27th. Two analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $925.56.
The stock’s 50 day moving average is $774.12 and its 200-day moving average is $735.94. The company has a market cap of $540.82 billion, a PE ratio of 30.49 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. The business earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.99 earnings per share. Equities analysts predict that Alphabet Inc. will post $34.29 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Alphabet by 1.2% in the second quarter. Vanguard Group Inc. now owns 18,237,076 shares of the company’s stock worth $12,621,879,000 after buying an additional 221,141 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Alphabet by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,758,701 shares of the company’s stock worth $5,369,797,000 after buying an additional 64,853 shares in the last quarter. BlackRock Fund Advisors increased its position in Alphabet by 1.3% in the second quarter. BlackRock Fund Advisors now owns 3,765,984 shares of the company’s stock worth $2,606,438,000 after buying an additional 47,436 shares in the last quarter. Janus Capital Management LLC increased its position in Alphabet by 1.4% in the second quarter. Janus Capital Management LLC now owns 3,527,197 shares of the company’s stock worth $2,441,123,000 after buying an additional 49,943 shares in the last quarter. Finally, Capital World Investors increased its position in Alphabet by 5.5% in the second quarter. Capital World Investors now owns 3,394,165 shares of the company’s stock worth $2,349,102,000 after buying an additional 176,954 shares in the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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