Investors purchased shares of Alphabet Inc. (NASDAQ:GOOG) on weakness during trading hours on Tuesday following insider selling activity. $383.12 million flowed into the stock on the tick-up and $259.10 million flowed out of the stock on the tick-down, for a money net flow of $124.02 million into the stock. Of all equities tracked, Alphabet had the 3rd highest net in-flow for the day. Alphabet traded down ($0.93) for the day and closed at $768.27Specifically, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $782.62, for a total transaction of $3,130,480.00. Following the sale, the chief executive officer now owns 3,378 shares in the company, valued at $2,643,690.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sergey Brin sold 33,340 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $778.43, for a total transaction of $25,952,856.20. Following the sale, the insider now owns 26,070 shares in the company, valued at approximately $20,293,670.10. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.

GOOG has been the topic of a number of analyst reports. Credit Suisse Group AG restated an “outperform” rating and set a $1,070.00 target price (up previously from $940.00) on shares of Alphabet in a research 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 issued a $900.00 price target on shares of Alphabet in a report on Wednesday, October 5th. Cantor Fitzgerald reiterated a “buy” rating and issued a $1,040.00 price target (up previously from $1,000.00) on shares of Alphabet in a report on Friday, October 28th. Finally, Wedbush reiterated a “neutral” rating and issued a $880.00 price target (up previously from $840.00) on shares of Alphabet in a report on Sunday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and forty-four have assigned a buy rating to the company. Alphabet currently has an average rating of “Buy” and an average target price of $940.42.

The company has a 50 day moving average of $779.14 and a 200-day moving average of $751.44. The firm has a market capitalization of $524.50 billion, a P/E ratio of 27.85 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 27th. The company reported $9.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.62 by $0.44. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $13.17 billion. Alphabet had a net margin of 22.29% and a return on equity of 15.08%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $7.35 EPS. On average, analysts predict that Alphabet Inc. will post $34.42 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Riverpark Capital Management LLC raised its position in Alphabet by 22.8% in the second quarter. Riverpark Capital Management LLC now owns 7,719 shares of the company’s stock valued at $5,342,000 after buying an additional 1,434 shares during the last quarter. Bank of Montreal Can purchased a new position in Alphabet during the second quarter valued at $927,982,000. Nordea Investment Management AB raised its position in Alphabet by 9.8% in the second quarter. Nordea Investment Management AB now owns 183,470 shares of the company’s stock valued at $126,980,000 after buying an additional 16,342 shares during the last quarter. Palestra Capital Management LLC raised its position in Alphabet by 7.2% in the second quarter. Palestra Capital Management LLC now owns 43,400 shares of the company’s stock valued at $30,037,000 after buying an additional 2,900 shares during the last quarter. Finally, Seaward Management Limited Partnership raised its position in Alphabet by 1.2% in the second quarter. Seaward Management Limited Partnership now owns 75,336 shares of the company’s stock valued at $52,140,000 after buying an additional 895 shares during the last quarter. 34.46% of the stock is currently owned by institutional investors.

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About Alphabet

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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