Traders Sell Alphabet (GOOG) on Strength After Insider Selling

Investors sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading on Friday following insider selling activity. $258.80 million flowed into the stock on the tick-up and $373.19 million flowed out of the stock on the tick-down, for a money net flow of $114.39 million out of the stock. Of all equities tracked, Alphabet had the 15th highest net out-flow for the day. Alphabet traded up $20.16 for the day and closed at $1,126.79Specifically, Director Ann Mather sold 38 shares of Alphabet stock in a transaction on Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total value 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the completion of the transaction, the chief executive officer now directly owns 1,178 shares of the company’s stock, valued at approximately $1,181,369.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,010 shares of company stock valued at $45,958,216. 13.92% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on the stock. Vetr cut shares of Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective for the company. in a report on Wednesday, January 10th. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. SunTrust Banks lifted their price objective on shares of Alphabet to $1,250.00 and gave the company a “buy” rating in a report on Friday, January 12th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. One equities research 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 stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,064.49.

The stock has a market capitalization of $784,190.00, a PE ratio of 35.10 and a beta of 1.01. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.

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 analysts’ consensus estimates of $10.07 by ($0.37). The business had revenue of $32.32 billion for 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 business’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.36 earnings per share.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Advantage Inc. raised its stake in shares of Alphabet by 0.4% in the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after acquiring an additional 1 shares during the period. Fiduciary Financial Services of The Southwest Inc. TX raised its stake in shares of Alphabet by 0.3% in the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 874 shares of the information services provider’s stock valued at $794,000 after acquiring an additional 3 shares during the period. First National Trust Co. raised its stake in shares of Alphabet by 0.4% in the 2nd quarter. First National Trust Co. now owns 713 shares of the information services provider’s stock valued at $647,000 after acquiring an additional 3 shares during the period. Marathon Capital Management raised its stake in shares of Alphabet by 1.2% in the 2nd quarter. Marathon Capital Management now owns 436 shares of the information services provider’s stock valued at $396,000 after acquiring an additional 5 shares during the period. Finally, Blue Edge Capital LLC raised its stake in shares of Alphabet by 0.6% in the 2nd quarter. Blue Edge Capital LLC now owns 908 shares of the information services provider’s stock valued at $825,000 after acquiring an additional 5 shares during the period. Hedge funds and other institutional investors own 34.34% of the company’s stock.

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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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