Traders Buy Shares of Alphabet (GOOG) on Weakness

Traders purchased shares of Alphabet Inc (NASDAQ:GOOG) on weakness during trading hours on Friday. $607.22 million flowed into the stock on the tick-up and $478.39 million flowed out of the stock on the tick-down, for a money net flow of $128.83 million into the stock. Of all equities tracked, Alphabet had the 9th highest net in-flow for the day. Alphabet traded down ($27.51) for the day and closed at $1,021.57

A number of brokerages have issued reports on GOOG. TheStreet cut shares of Alphabet from an “a” rating to a “c+” rating in a report on Thursday, February 1st. BidaskClub cut shares of Alphabet from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus reissued a “neutral” rating on shares of Alphabet in a report on Friday, February 2nd. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, January 26th. Finally, Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 target price on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-six have issued a buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,073.56.

The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. The stock has a market cap of $757,924.88, a PE ratio of 56.88 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). The business had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm posted $9.36 EPS.

Alphabet declared that its board has initiated a stock buyback program on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $1,092.73, for a total value of $4,370,920.00. Following the transaction, the chief executive officer now owns 628 shares in the company, valued at $686,234.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 38 shares of Alphabet stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $1,048.34, for a total transaction of $39,836.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,709 shares of company stock worth $53,035,301. 13.92% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of GOOG. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new position in Alphabet during the 4th quarter worth approximately $134,047,000. Green Square Capital LLC grew its position in Alphabet by 2.8% during the 4th quarter. Green Square Capital LLC now owns 3,608 shares of the information services provider’s stock worth $3,775,000 after purchasing an additional 99 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Alphabet by 1.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 24,304 shares of the information services provider’s stock worth $25,432,000 after purchasing an additional 447 shares in the last quarter. Certified Advisory Corp purchased a new position in Alphabet during the 4th quarter worth approximately $401,000. Finally, Fairfield Bush & CO. grew its position in Alphabet by 7.1% during the 4th quarter. Fairfield Bush & CO. now owns 12,000 shares of the information services provider’s stock worth $12,557,000 after purchasing an additional 792 shares in the last quarter. Hedge funds and other institutional investors own 34.84% 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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