Traders Buy Shares of Alphabet (GOOGL) on Weakness

Investors bought shares of Alphabet Inc (NASDAQ:GOOGL) on weakness during trading hours on Friday. $1,475.51 million flowed into the stock on the tick-up and $468.68 million flowed out of the stock on the tick-down, for a money net flow of $1,006.83 million into the stock. Of all equities tracked, Alphabet had the highest net in-flow for the day. Alphabet traded down ($2.23) for the day and closed at $1,190.30

A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, February 18th. Guggenheim assumed coverage on Alphabet in a research note on Thursday, December 6th. They set a “buy” rating and a $1,330.00 target price on the stock. Canaccord Genuity upgraded Alphabet from a “hold” rating to a “buy” rating and lifted their target price for the stock from $1,140.00 to $1,250.00 in a research note on Thursday, January 3rd. ValuEngine raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Finally, SunTrust Banks decreased their price objective on Alphabet to $1,350.00 and set a “buy” rating for the company in a report on Tuesday, February 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. Alphabet currently has an average rating of “Buy” and an average price target of $1,314.86.

The firm has a market cap of $829.03 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company has a quick ratio of 3.89, a current ratio of 3.92 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.08 by $1.69. The firm had revenue of $31.84 billion for the quarter, compared to the consensus estimate of $31.28 billion. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. During the same period in the prior year, the company posted $9.70 earnings per share. As a group, equities analysts predict that Alphabet Inc will post 47.38 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. Jackson Hole Capital Partners LLC bought a new position in Alphabet in the fourth quarter valued at about $279,000. Van Leeuwen & Company LLC lifted its holdings in Alphabet by 2.6% in the fourth quarter. Van Leeuwen & Company LLC now owns 4,058 shares of the information services provider’s stock valued at $4,212,000 after acquiring an additional 104 shares during the period. Arbor Wealth Management LLC bought a new position in Alphabet in the fourth quarter valued at about $3,686,000. Belpointe Asset Management LLC lifted its holdings in Alphabet by 3.1% in the fourth quarter. Belpointe Asset Management LLC now owns 1,153 shares of the information services provider’s stock valued at $1,204,000 after acquiring an additional 35 shares during the period. Finally, Sowell Financial Services LLC bought a new position in Alphabet in the fourth quarter valued at about $1,230,000. 42.53% of the stock is currently owned by hedge funds and other institutional investors.

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About Alphabet (NASDAQ:GOOGL)

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.

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