Traders Sell Alphabet (GOOG) on Strength (GOOG)

Investors sold shares of Alphabet Inc. (NASDAQ:GOOG) on strength during trading hours on Monday. $319.25 million flowed into the stock on the tick-up and $496.73 million flowed out of the stock on the tick-down, for a money net flow of $177.48 million out of the stock. Of all companies tracked, Alphabet had the 2nd highest net out-flow for the day. Alphabet traded up $8.41 for the day and closed at $1,015.45

GOOG has been the subject of several research analyst reports. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Friday, January 26th. Goldman Sachs reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, January 25th. UBS reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. SunTrust Banks upped their price target on shares of Alphabet to $1,250.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Finally, BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $1,089.34.

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The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The company has a market capitalization of $699,674.25, a price-to-earnings ratio of 31.68 and a beta of 1.08.

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

Alphabet declared that its board has authorized a share buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in outstanding shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other news, Director L John Doerr sold 11,575 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $1,079.99, for a total transaction of $12,500,884.25. Following the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $3,763,765.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $993.80, for a total transaction of $3,975,200.00. Following the transaction, the chief executive officer now directly owns 940 shares in the company, valued at $934,172. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,720 shares of company stock worth $52,755,337. Corporate insiders own 13.92% of the company’s stock.

Several large investors have recently bought and sold shares of GOOG. Janus Henderson Group PLC boosted its stake in shares of Alphabet by 759.0% during the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after purchasing an additional 2,831,099 shares during the last quarter. Koch Industries Inc. boosted its stake in shares of Alphabet by 214,636.6% during the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after purchasing an additional 1,161,184 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Alphabet by 4.8% during the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after purchasing an additional 826,480 shares during the last quarter. Capital World Investors boosted its stake in shares of Alphabet by 13.9% during the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after purchasing an additional 776,853 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Alphabet by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after purchasing an additional 589,654 shares during the last quarter. 34.86% of the stock is currently owned by institutional investors and hedge funds.

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Alphabet Company Profile

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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