Investors Buy Shares of Alphabet (GOOGL) on Weakness

Traders bought shares of Alphabet Inc (NASDAQ:GOOGL) on weakness during trading hours on Wednesday. $366.59 million flowed into the stock on the tick-up and $207.51 million flowed out of the stock on the tick-down, for a money net flow of $159.08 million into the stock. Of all equities tracked, Alphabet had the highest net in-flow for the day. Alphabet traded down ($5.65) for the day and closed at $1,060.20

Several equities analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Bank of America restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Tuesday, September 26th. Piper Jaffray Companies restated a “buy” rating and set a $1,150.00 price target on shares of Alphabet in a research report on Thursday, October 19th. Citigroup restated a “buy” rating on shares of Alphabet in a research report on Monday, October 30th. Finally, BMO Capital Markets restated a “market perform” rating and set a $970.00 price target on shares of Alphabet in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,091.54.

The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The firm has a market cap of $736,628.00, a price-to-earnings ratio of 35.35, a P/E/G ratio of 1.78 and a beta of 0.89.

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

A number of large investors have recently added to or reduced their stakes in GOOGL. MUFG Americas Holdings Corp lifted its position in shares of Alphabet by 0.6% in the first quarter. MUFG Americas Holdings Corp now owns 39,996 shares of the information services provider’s stock valued at $33,909,000 after acquiring an additional 233 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its position in shares of Alphabet by 0.5% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 1,436 shares of the information services provider’s stock valued at $1,217,000 after acquiring an additional 7 shares in the last quarter. Hourglass Capital LLC lifted its position in shares of Alphabet by 0.7% in the first quarter. Hourglass Capital LLC now owns 4,880 shares of the information services provider’s stock valued at $4,137,000 after acquiring an additional 33 shares in the last quarter. Karp Capital Management Corp lifted its position in shares of Alphabet by 5,218.2% in the first quarter. Karp Capital Management Corp now owns 199,752 shares of the information services provider’s stock valued at $169,350,000 after acquiring an additional 195,996 shares in the last quarter. Finally, First Foundation Advisors lifted its position in shares of Alphabet by 28.9% in the first quarter. First Foundation Advisors now owns 4,449 shares of the information services provider’s stock valued at $3,772,000 after acquiring an additional 997 shares in the last quarter. 33.55% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Week Herald and is owned by of Week Herald. If you are viewing this report on another domain, it was copied illegally and republished in violation of US & international trademark and copyright laws. The legal version of this report can be accessed at https://weekherald.com/2017/12/29/investors-buy-shares-of-alphabet-googl-on-weakness.html.

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.

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply