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 following insider selling activity. $287.35 million flowed into the stock on the tick-up and $434.36 million flowed out of the stock on the tick-down, for a money net flow of $147.01 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $2.60 for the day and closed at $770.84Specifically, CEO Sundar Pichai sold 4,000 shares of Alphabet 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 transaction, the chief executive officer now directly owns 3,378 shares of the company’s stock, valued at $2,643,690.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Grier Campbell sold 194 shares of Alphabet stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $774.25, for a total transaction of $150,204.50. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.
GOOG has been the topic of several research reports. Deutsche Bank AG reissued a “buy” rating and set a $1,050.00 price target on shares of Alphabet in a research note on Wednesday, October 12th. RBC Capital Markets reissued an “outperform” rating and set a $1,025.00 price target (up from $1,000.00) on shares of Alphabet in a research note on Friday, September 30th. Stifel Nicolaus lifted their price target on shares of Alphabet from $925.00 to $950.00 and gave the stock a “hold” rating in a research note on Friday, October 28th. Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $847.07 price target on the stock. in a research note on Tuesday, November 15th. Finally, Susquehanna restated a “positive” rating and issued a $1,000.00 target price on shares of Alphabet in a report on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $940.55.
The company’s 50-day moving average is $778.59 and its 200 day moving average is $752.66. The firm has a market cap of $522.47 billion, a P/E ratio of 27.74 and a beta of 1.01.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 27th. The company reported $9.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.62 by $0.44. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $13.17 billion. Alphabet had a return on equity of 15.08% and a net margin of 22.29%. The business’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted $7.35 earnings per share. On average, analysts expect that Alphabet Inc. will post $34.42 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Lakeview Capital Partners LLC raised its stake in shares of Alphabet by 0.3% in the second quarter. Lakeview Capital Partners LLC now owns 327 shares of the company’s stock worth $226,000 after buying an additional 1 shares in the last quarter. GW Henssler & Associates Ltd. raised its stake in shares of Alphabet by 0.6% in the second quarter. GW Henssler & Associates Ltd. now owns 340 shares of the company’s stock worth $235,000 after buying an additional 2 shares in the last quarter. Shufro Rose & Co. LLC raised its stake in shares of Alphabet by 0.6% in the second quarter. Shufro Rose & Co. LLC now owns 357 shares of the company’s stock worth $247,000 after buying an additional 2 shares in the last quarter. Alpha Windward LLC raised its stake in shares of Alphabet by 0.9% in the third quarter. Alpha Windward LLC now owns 222 shares of the company’s stock worth $173,000 after buying an additional 2 shares in the last quarter. Finally, 1st Global Advisors Inc. raised its stake in shares of Alphabet by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 658 shares of the company’s stock worth $455,000 after buying an additional 3 shares in the last quarter. 34.27% of the stock is currently owned by hedge funds and other institutional investors.
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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