Investors Sell Alphabet (GOOG) on Strength on Insider Selling

Investors sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading hours on Wednesday after an insider sold shares in the company. $218.71 million flowed into the stock on the tick-up and $369.17 million flowed out of the stock on the tick-down, for a money net flow of $150.46 million out of the stock. Of all companies tracked, Alphabet had the 4th highest net out-flow for the day. Alphabet traded up $13.23 for the day and closed at $1,018.38Specifically, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $958.40, for a total transaction of $3,833,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David C. Drummond sold 1,496 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the sale, the senior vice president now owns 52 shares in the company, valued at approximately $48,867.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,396 shares of company stock worth $38,242,981. Company insiders own 13.92% of the company’s stock.

Several research firms recently weighed in on GOOG. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,080.50 price objective on the stock. in a research note on Monday, November 27th. UBS reiterated a “buy” rating on shares of Alphabet in a research note on Monday, November 27th. Piper Jaffray Companies reiterated an “overweight” rating and set a $1,150.00 price objective on shares of Alphabet in a research note on Thursday, October 19th. Pivotal Research increased their price objective on shares of Alphabet from $940.00 to $970.00 and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirty-nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $1,047.96.

The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The firm has a market cap of $693,883.88, a price-to-earnings ratio of 33.43 and a beta of 0.93.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $1.26. The business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the firm posted $9.06 earnings per share.

Institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in Alphabet by 759.0% during the second quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after buying an additional 2,831,099 shares in the last quarter. Harbour Capital Advisors LLC boosted its holdings in Alphabet by 87,001.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after buying an additional 1,991,465 shares in the last quarter. Koch Industries Inc. boosted its holdings in Alphabet by 214,636.6% during the second quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after buying an additional 1,161,184 shares in the last quarter. BlackRock Inc. boosted its holdings in Alphabet by 4.8% during the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after buying an additional 826,480 shares in the last quarter. Finally, Capital World Investors boosted its holdings in Alphabet by 13.9% during the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after buying an additional 776,853 shares in the last quarter. Institutional investors and hedge funds own 34.74% of the company’s stock.

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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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