Investors Sell Alphabet (GOOGL) on Strength (GOOGL)

Investors sold shares of Alphabet Inc. (NASDAQ:GOOGL) on strength during trading on Monday. $259.50 million flowed into the stock on the tick-up and $367.18 million flowed out of the stock on the tick-down, for a money net flow of $107.68 million out of the stock. Of all stocks tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $10.06 for the day and closed at $1,046.10

GOOGL has been the subject of several research reports. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price target for the company in a research report on Tuesday, December 26th. SunTrust Banks cut their price objective on shares of Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $1,250.00 price objective (up from $1,120.00) on shares of Alphabet in a report on Monday, January 29th. Cowen lifted their price objective on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, B. Riley lifted their price objective on shares of Alphabet from $1,200.00 to $1,375.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $1,172.65.

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The company has a market cap of $726,812.50, a PE ratio of 33.68, a PEG ratio of 1.12 and a beta of 1.05. 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:GOOGL) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The firm had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $25.65 billion. equities analysts forecast that Alphabet Inc. will post 41.18 EPS for the current year.

Alphabet announced that its Board of Directors has authorized a stock buyback plan 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. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in shares of Alphabet during the fourth quarter worth about $108,000. Odey Holdings AG grew its holdings in shares of Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares in the last quarter. Stuart Chaussee & Associates Inc. purchased a new position in shares of Alphabet during the fourth quarter worth about $123,000. Stelac Advisory Services LLC purchased a new stake in Alphabet in the third quarter worth approximately $126,000. Finally, Lee Financial Co boosted its stake in Alphabet by 500.0% in the fourth quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock worth $126,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.

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About Alphabet

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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