Traders Buy Shares of Alphabet (GOOGL) on Weakness

Traders purchased shares of Alphabet Inc (NASDAQ:GOOGL) on weakness during trading hours on Tuesday. $434.42 million flowed into the stock on the tick-up and $320.05 million flowed out of the stock on the tick-down, for a money net flow of $114.37 million into the stock. Of all equities tracked, Alphabet had the 10th highest net in-flow for the day. Alphabet traded down ($5.31) for the day and closed at $1,079.78

A number of research firms have weighed in on GOOGL. Stifel Nicolaus reissued a “buy” rating and issued a $1,075.00 price objective on shares of Alphabet in a research report on Monday, September 25th. UBS reissued a “buy” rating and issued a $1,080.00 price objective on shares of Alphabet in a research report on Friday, September 8th. Jefferies Group reissued a “buy” rating and issued a $1,200.00 price objective on shares of Alphabet in a research report on Tuesday, October 10th. They noted that the move was a valuation call. Mizuho reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, October 17th. Finally, Vetr cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 price objective for the company. in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,089.17.

The stock has a market cap of $750,232.25, a P/E ratio of 36.15, a P/E/G ratio of 1.81 and a beta of 0.89. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same quarter last year, the business earned $9.06 earnings per share. equities research analysts expect that Alphabet Inc will post 32.34 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Alphabet by 3.3% during the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after buying an additional 662,279 shares in the last quarter. BlackRock Inc. lifted its position in shares of Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares in the last quarter. FMR LLC lifted its position in shares of Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares in the last quarter. State Street Corp lifted its position in shares of Alphabet by 1.2% in the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after acquiring an additional 142,214 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Alphabet by 2.4% in the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after acquiring an additional 102,133 shares in the last quarter. Institutional investors and hedge funds own 33.53% of the company’s stock.

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Alphabet Company Profile

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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