Investors Sell Alphabet Inc. (GOOG) on Strength on Insider Selling
Investors sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading hours on Tuesday following insider selling activity. $201.73 million flowed into the stock on the tick-up and $240.17 million flowed out of the stock on the tick-down, for a money net flow of $38.44 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $8.80 for the day and closed at $783.01Specifically, CEO Lawrence Page sold 33,332 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $800.62, for a total value of $26,686,265.84. Following the completion of the transaction, the chief executive officer now owns 105,666 shares of the company’s stock, valued at $84,598,312.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $690.94, for a total transaction of $2,763,760.00. Following the completion of the transaction, the chief executive officer now directly owns 3,672 shares of the company’s stock, valued at approximately $2,537,131.68. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.
Several research firms recently issued reports on GOOG. Credit Agricole SA reissued a “buy” rating on shares of Alphabet in a research report on Friday, September 23rd. Moffett Nathanson reissued a “buy” rating and issued a $925.00 price target on shares of Alphabet in a research report on Friday, September 23rd. Wedbush lowered shares of Alphabet from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $700.00 to $800.00 in a research report on Tuesday. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $822.37 price target for the company in a research report on Thursday, August 18th. Finally, Jefferies Group reissued a “buy” rating on shares of Alphabet in a research report on Friday, September 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company. Alphabet presently has an average rating of “Buy” and a consensus price target of $923.68.
The stock has a 50-day moving average price of $774.36 and a 200-day moving average price of $737.99. The company has a market capitalization of $538.14 billion, a price-to-earnings ratio of 30.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The business had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. During the same quarter in the prior year, the business earned $6.99 earnings per share. Alphabet’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post $34.30 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of GOOG. Wagner Bowman Management Corp increased its position in Alphabet by 1.2% in the first quarter. Wagner Bowman Management Corp now owns 590 shares of the company’s stock valued at $439,000 after buying an additional 7 shares during the last quarter. CrestPoint Capital Management LLC increased its position in Alphabet by 16.7% in the first quarter. CrestPoint Capital Management LLC now owns 700 shares of the company’s stock valued at $521,000 after buying an additional 100 shares during the last quarter. Iberiabank Corp purchased a new position in Alphabet during the first quarter valued at approximately $279,000. Mission Wealth Management LLC increased its position in Alphabet by 40.4% in the first quarter. Mission Wealth Management LLC now owns 1,616 shares of the company’s stock valued at $1,204,000 after buying an additional 465 shares during the last quarter. Finally, Culbertson A N & Co. Inc. purchased a new position in Alphabet during the first quarter valued at approximately $1,744,000. Institutional investors and hedge funds own 34.39% of the company’s stock.
Alphabet Company Profile
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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