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

Traders purchased shares of Alphabet Inc. (NASDAQ:GOOGL) on weakness during trading on Tuesday. $343.39 million flowed into the stock on the tick-up and $237.46 million flowed out of the stock on the tick-down, for a money net flow of $105.93 million into the stock. Of all stocks tracked, Alphabet had the 2nd highest net in-flow for the day. Alphabet traded down ($4.51) for the day and closed at $987.80

A number of analysts have recently issued reports on GOOGL shares. Societe Generale set a $1,210.00 price objective on Alphabet and gave the company a “buy” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,030.26 price objective for the company. in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $1,200.00 price objective on shares of Alphabet in a research report on Tuesday, July 4th. Aegis reaffirmed a “buy” rating and issued a $1,090.00 price objective on shares of Alphabet in a research report on Monday, July 3rd. Finally, MKM Partners reaffirmed a “buy” rating and issued a $1,170.00 price objective on shares of Alphabet in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,057.04.

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 firm has a 50-day moving average price of $949.40 and a 200-day moving average price of $939.39.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by ($3.24). Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the previous year, the business earned $8.42 earnings per share. On average, analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. State of Alaska Department of Revenue purchased a new stake in Alphabet in the second quarter worth about $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Alphabet in the first quarter worth about $108,000. Delta Asset Management LLC TN lifted its holdings in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after buying an additional 36 shares during the period. Finally, Odey Holdings AG lifted its holdings in Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 33.85% 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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