Traders Sell Shares of Alphabet Inc. (GOOG) on Strength on Insider Selling

Traders sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading on Tuesday following insider selling activity. $232.46 million flowed into the stock on the tick-up and $290.68 million flowed out of the stock on the tick-down, for a money net flow of $58.22 million out of the stock. Of all companies tracked, Alphabet had the 10th highest net out-flow for the day. Alphabet traded up $2.99 for the day and closed at $932.07Specifically, Director Ann Mather sold 629 shares of Alphabet stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $932.28, for a total value of $586,404.12. Following the completion of the transaction, the director now directly owns 1,781 shares in the company, valued at approximately $1,660,390.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $949.77, for a total transaction of $1,899,540.00. Following the completion of the transaction, the senior vice president now owns 1,800 shares of the company’s stock, valued at $1,709,586. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,680 shares of company stock valued at $43,521,363. 13.92% of the stock is currently owned by company insiders.

Several brokerages have commented on GOOG. Canaccord Genuity downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target for the company. in a report on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reissued a “hold” rating and issued a $980.00 price target (down from $990.00) on shares of Alphabet in a report on Monday, July 17th. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $1,200.00 price target on shares of Alphabet in a report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-one have given a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,031.14.

The company has a 50 day moving average of $927.90 and a 200-day moving average of $905.79. The firm has a market cap of $645.81 billion, a price-to-earnings ratio of 33.78 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm posted $8.42 EPS. On average, equities research analysts expect that Alphabet Inc. will post $30.59 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Burt Wealth Advisors increased its position in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after purchasing an additional 20 shares during the period. Signature Estate & Investment Advisors LLC increased its position in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 5 shares during the period. Riggs Asset Managment Co. Inc. increased its position in Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after purchasing an additional 40 shares during the period. Farmers National Bank increased its position in Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after purchasing an additional 21 shares during the period. Finally, Almanack Investment Partners LLC. increased its position in Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after purchasing an additional 7 shares during the period. 34.55% of the stock is currently owned by institutional investors and hedge funds.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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