Traders Sell Alphabet Inc. (GOOG) on Strength After Insider Selling
Investors sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading hours on Tuesday after an insider sold shares in the company. $427.15 million flowed into the stock on the tick-up and $478.09 million flowed out of the stock on the tick-down, for a money net flow of $50.94 million out of the stock. Of all equities tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $22.41 for the day and closed at $758.49Specifically, Director Ann Mather sold 43 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $773.49, for a total transaction of $33,260.07. Following the sale, the director now directly owns 1,656 shares in the company, valued at approximately $1,280,899.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sergey Brin sold 33,332 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $748.75, for a total transaction of $24,957,335.00. Following the sale, the insider now owns 16,666 shares in the company, valued at $12,478,667.50. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by company insiders.
Several equities analysts recently commented on GOOG shares. Goldman Sachs Group Inc. set a $810.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Wednesday, July 20th. Credit Suisse Group AG reiterated an “outperform” rating and set a $1,070.00 price target (up from $940.00) on shares of Alphabet in a report on Monday, October 17th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, September 27th. Robert W. Baird reiterated an “outperform” rating and set a $900.00 price target on shares of Alphabet in a report on Wednesday, October 5th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $1,040.00 price target (up from $1,000.00) on shares of Alphabet in a report on Friday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and forty-four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $940.42.
The firm has a market capitalization of $526.91 billion, a PE ratio of 27.98 and a beta of 1.01. The firm’s 50-day moving average price is $781.06 and its 200 day moving average price is $748.96.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 27th. The company reported $9.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.62 by $0.44. Alphabet had a net margin of 22.29% and a return on equity of 15.08%. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $13.17 billion. During the same period last year, the company earned $7.35 EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post $34.42 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC purchased a new stake in Alphabet during the third quarter valued at about $102,000. Quantbot Technologies LP raised its position in shares of Alphabet by 64.2% in the third quarter. Quantbot Technologies LP now owns 156 shares of the company’s stock valued at $121,000 after buying an additional 61 shares during the last quarter. Trust Department MB Financial Bank N A raised its position in shares of Alphabet by 3.0% in the third quarter. Trust Department MB Financial Bank N A now owns 170 shares of the company’s stock valued at $132,000 after buying an additional 5 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in shares of Alphabet during the second quarter valued at $121,000. Finally, Klingman & Associates LLC raised its position in shares of Alphabet by 28.7% in the third quarter. Klingman & Associates LLC now owns 184 shares of the company’s stock valued at $143,000 after buying an additional 41 shares during the last quarter. 34.41% of the stock is currently owned by institutional investors.
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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