Traders sold shares of Alphabet Inc (NASDAQ:GOOGL) on strength during trading hours on Monday. $545.51 million flowed into the stock on the tick-up and $663.11 million flowed out of the stock on the tick-down, for a money net flow of $117.60 million out of the stock. Of all companies tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $5.09 for the day and closed at $1,165.93
GOOGL has been the topic of a number of analyst reports. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,232.76 price target on the stock. in a research report on Tuesday, March 6th. MKM Partners restated a “buy” rating and set a $1,355.00 target price (up previously from $1,210.00) on shares of Alphabet in a report on Wednesday, February 21st. William Blair restated an “outperform” rating on shares of Alphabet in a report on Thursday, February 1st. Argus increased their target price on Alphabet to $1,300.00 in a report on Monday, February 5th. Finally, Aegis restated a “buy” rating and set a $1,350.00 target price on shares of Alphabet in a report on Sunday, February 4th. One investment analyst has rated the stock with a sell rating, six 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 currently has a consensus rating of “Buy” and an average target price of $1,167.67.
The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The company has a market cap of $810,068.38, a P/E ratio of 63.47, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99.
Alphabet declared that its board has authorized a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of 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. grew its holdings in shares of Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after buying an additional 567,337 shares in the last quarter. FMR LLC grew its holdings in shares of Alphabet by 2.1% during the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after buying an additional 367,634 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Alphabet by 2.4% during the second quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock worth $4,005,243,000 after buying an additional 102,133 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Alphabet by 7.8% during the second quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock worth $3,607,142,000 after buying an additional 280,710 shares in the last quarter. Institutional investors own 34.38% 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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