Traders Sell Shares of Alphabet (GOOG) on Strength (GOOG)

Investors sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading hours on Monday. $382.05 million flowed into the stock on the tick-up and $562.56 million flowed out of the stock on the tick-down, for a money net flow of $180.51 million out of the stock. Of all stocks tracked, Alphabet had the 3rd highest net out-flow for the day. Alphabet traded up $5.28 for the day and closed at $1,094.80

GOOG has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, January 26th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. UBS Group reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Jefferies Group reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Finally, Societe Generale reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirty-six have assigned a buy rating to the company. Alphabet has a consensus rating of “Buy” and an average target price of $1,064.49.

The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $761,050.00, a PE ratio of 34.11 and a beta of 1.01.

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

Alphabet declared that its board has initiated a stock buyback plan on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

In other news, Director Ann Mather sold 38 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the completion of the transaction, the director now owns 1,813 shares of the company’s stock, valued at $1,841,645.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director L John Doerr sold 11,575 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold 39,010 shares of company stock valued at $41,531,496 in the last ninety days. Insiders own 13.92% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GOOG. Perennial Advisors LLC raised its stake in Alphabet by 8.7% during the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock worth $2,937,000 after buying an additional 260 shares during the last quarter. Rothschild Capital Partners LLC bought a new position in Alphabet during the third quarter worth $3,161,000. One Capital Management LLC raised its stake in Alphabet by 5.0% during the second quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock worth $2,920,000 after buying an additional 154 shares during the last quarter. Northeast Investment Management raised its stake in Alphabet by 4.4% during the second quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock worth $11,521,000 after buying an additional 537 shares during the last quarter. Finally, Taurus Asset Management LLC raised its stake in Alphabet by 0.9% during the second quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock worth $23,591,000 after buying an additional 220 shares during the last quarter. 34.34% of the stock is owned by hedge funds and other institutional investors.

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About Alphabet

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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