Traders Buy Alphabet Inc. (GOOG) on Weakness After Insider Selling

Investors bought shares of Alphabet Inc. (NASDAQ:GOOG) on weakness during trading hours on Wednesday following insider selling activity. $222.66 million flowed into the stock on the tick-up and $190.66 million flowed out of the stock on the tick-down, for a money net flow of $32.00 million into the stock. Of all equities tracked, Alphabet had the 19th highest net in-flow for the day. Alphabet traded down ($6.11) for the day and closed at $951.68Specifically, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $958.40, for a total transaction of $3,833,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David C. Drummond sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $949.77, for a total transaction of $1,899,540.00. Following the transaction, the senior vice president now owns 1,800 shares in the company, valued at approximately $1,709,586. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,694 shares of company stock worth $39,941,804. 13.92% of the stock is currently owned by company insiders.

Several equities analysts have issued reports on the stock. UBS AG restated a “buy” rating and set a $1,080.00 target price on shares of Alphabet in a research note on Tuesday, July 25th. Barclays PLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-nine have given a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,034.31.

The company has a market capitalization of $659.40 billion, a P/E ratio of 34.49 and a beta of 0.94. The stock has a 50 day moving average price of $929.62 and a 200 day moving average price of $917.34.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business earned $8.42 EPS. Analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.

A number of large investors have recently modified their holdings of GOOG. Burt Wealth Advisors grew its holdings in Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its holdings 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 valued at $124,000 after buying an additional 5 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in Alphabet by 39.6% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares in the last quarter. Farmers National Bank grew its holdings in Alphabet by 15.0% in the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares in the last quarter. Finally, Archford Capital Strategies LLC grew its holdings 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 valued at $139,000 after buying an additional 832 shares in the last quarter. Institutional investors own 34.53% of the company’s stock.

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About Alphabet

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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