Investors Buy Shares of Alphabet Inc. (GOOGL) on Weakness

Traders purchased shares of Alphabet Inc. (NASDAQ:GOOGL) on weakness during trading hours on Monday. $344.67 million flowed into the stock on the tick-up and $238.21 million flowed out of the stock on the tick-down, for a money net flow of $106.46 million into the stock. Of all stocks tracked, Alphabet had the 3rd highest net in-flow for the day. Alphabet traded down ($1.33) for the day and closed at $992.31

GOOGL has been the topic of a number of recent research reports. Societe Generale set a $1,210.00 target price on Alphabet and gave the stock a “buy” rating in a research note on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley restated an “overweight” rating and issued a $1,050.00 target price on shares of Alphabet in a research note on Saturday, July 22nd. Pivotal Research restated a “hold” rating and issued a $940.00 target price (down previously from $980.00) on shares of Alphabet in a research note on Tuesday, July 25th. Deutsche Bank AG restated a “buy” rating and issued a $1,258.00 target price (up previously from $1,250.00) on shares of Alphabet in a research note on Saturday, July 22nd. Finally, Citigroup Inc. upped their target price on Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $1,058.31.

The stock has a market cap of $684.43 billion, a price-to-earnings ratio of 35.80 and a beta of 0.96. The company has a 50 day moving average price of $951.32 and a 200-day moving average price of $940.49.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the consensus estimate of $8.25 by ($3.24). The business had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter last year, the company earned $8.42 EPS. On average, equities analysts forecast that Alphabet Inc. will post $30.59 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in GOOGL. Koch Industries Inc. increased its stake in shares of Alphabet by 181,219.4% in the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock valued at $1,085,000 after purchasing an additional 1,085,504 shares during the period. Harbour Capital Advisors LLC increased its stake in shares of Alphabet by 65,026.4% in the second quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock valued at $800,000 after purchasing an additional 742,602 shares during the period. Vanguard Group Inc. increased its stake in shares of Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after purchasing an additional 662,279 shares during the period. BlackRock Inc. increased its stake in shares of Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after purchasing an additional 567,337 shares during the period. Finally, FMR LLC increased its stake in shares of Alphabet by 2.1% in the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after purchasing an additional 367,634 shares during the period. Institutional investors own 33.85% 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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