Traders Sell Shares of Alphabet (GOOGL) on Strength (GOOGL)
Investors sold shares of Alphabet Inc (NASDAQ:GOOGL) on strength during trading hours on Monday. $337.06 million flowed into the stock on the tick-up and $394.77 million flowed out of the stock on the tick-down, for a money net flow of $57.71 million out of the stock. Of all stocks tracked, Alphabet had the 15th highest net out-flow for the day. Alphabet traded up $3.80 for the day and closed at $1,226.53
GOOGL has been the topic of several recent research reports. Jefferies Financial Group set a $1,200.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research report on Thursday, December 20th. Nomura reiterated an “outperform” rating on shares of Alphabet in a research report on Wednesday, February 6th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 price objective on the stock in a research report on Monday, January 28th. Wells Fargo & Co set a $1,300.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Finally, BMO Capital Markets decreased their price objective on shares of Alphabet to $1,100.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 5th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. Alphabet has an average rating of “Buy” and a consensus price target of $1,324.14.
The firm has a market cap of $850.03 billion, a PE ratio of 25.82, a PEG ratio of 1.42 and a beta of 1.05. The company has a current ratio of 3.92, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02.
Several hedge funds have recently made changes to their positions in GOOGL. LFA Lugano Financial Advisors SA bought a new stake in Alphabet in the 2nd quarter valued at about $774,000. Sturgeon Ventures LLP increased its holdings in Alphabet by 8.8% during the 2nd quarter. Sturgeon Ventures LLP now owns 1,659 shares of the information services provider’s stock worth $1,872,000 after purchasing an additional 134 shares in the last quarter. HRT Financial LLC increased its holdings in Alphabet by 1,303.9% during the 2nd quarter. HRT Financial LLC now owns 4,352 shares of the information services provider’s stock worth $4,914,000 after purchasing an additional 4,042 shares in the last quarter. Ashburton Jersey Ltd increased its holdings in Alphabet by 10.4% during the 2nd quarter. Ashburton Jersey Ltd now owns 745 shares of the information services provider’s stock worth $841,000 after purchasing an additional 70 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Alphabet by 0.8% during the 2nd quarter. Northern Trust Corp now owns 3,677,525 shares of the information services provider’s stock worth $4,152,625,000 after purchasing an additional 28,375 shares in the last quarter. Institutional investors and hedge funds own 33.99% of the company’s stock.
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About Alphabet (NASDAQ:GOOGL)
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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