Investors Buy Shares of Alphabet (GOOG) on Weakness on Insider Selling

Investors purchased shares of Alphabet Inc. (NASDAQ:GOOG) on weakness during trading on Friday after an insider sold shares in the company. $331.20 million flowed into the stock on the tick-up and $261.57 million flowed out of the stock on the tick-down, for a money net flow of $69.63 million into the stock. Of all stocks tracked, Alphabet had the 4th highest net in-flow for the day. Alphabet traded down ($3.24) for the day and closed at $1,029.27Specifically, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $1,127.17, for a total transaction of $4,508,680.00. Following the transaction, the chief executive officer now directly owns 656 shares in the company, valued at approximately $739,423.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 37 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $1,107.87, for a total value of $40,991.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,410 shares of company stock worth $58,606,136. Insiders own 13.92% of the company’s stock.

Several equities research analysts have weighed in on the company. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 target price for the company in a research note on Monday, March 19th. SunTrust Banks raised their target price on Alphabet to $1,250.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Friday, January 12th. Morningstar restated a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. Finally, Pivotal Research lowered their price objective on Alphabet from $1,110.00 to $1,040.00 and set a “hold” rating for the company in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,089.34.

How to Become a New Pot Stock Millionaire

The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. The company has a market capitalization of $708,657.81, a price-to-earnings ratio of 32.11 and a beta of 1.08.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). The business had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the company posted $9.36 EPS.

Alphabet declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

A number of large investors have recently made changes to their positions in the stock. Stuart Chaussee & Associates Inc. raised its stake in Alphabet by 108.3% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after acquiring an additional 52 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its stake in Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares during the last quarter. Price Wealth Management Inc. purchased a new position in Alphabet in the 4th quarter worth $125,000. Archford Capital Strategies LLC raised its stake in Alphabet by 400.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after acquiring an additional 832 shares during the last quarter. Finally, WealthShield LLC purchased a new position in Alphabet in the 4th quarter worth $144,000. 34.86% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece was first posted by Week Herald and is the sole property of of Week Herald. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://weekherald.com/2018/04/13/investors-buy-shares-of-alphabet-goog-on-weakness-on-insider-selling.html.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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