Investors Sell Shares of Alphabet (GOOG) on Strength After Insider Selling

Investors sold shares of Alphabet Inc (NASDAQ:GOOG) on strength during trading hours on Thursday following insider selling activity. $314.20 million flowed into the stock on the tick-up and $370.71 million flowed out of the stock on the tick-down, for a money net flow of $56.51 million out of the stock. Of all equities tracked, Alphabet had the 0th highest net out-flow for the day. Alphabet traded up $12.55 for the day and closed at $1,030.93Specifically, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $959.26, for a total value of $175,544.58. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 38 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $959.26, for a total transaction of $36,451.88. Following the completion of the transaction, the director now owns 1,797 shares in the company, valued at approximately $1,723,790.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,396 shares of company stock valued at $38,242,981. 13.92% of the stock is owned by corporate insiders.

A number of equities analysts have commented on the stock. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,080.50 price objective on the stock. in a report on Monday, November 27th. UBS reiterated a “buy” rating on shares of Alphabet in a report on Monday, November 27th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $1,150.00 price objective on shares of Alphabet in a report on Thursday, October 19th. Pivotal Research boosted their price objective on shares of Alphabet from $940.00 to $970.00 and gave the stock a “hold” rating in a report on Thursday, October 12th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-eight have assigned a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,047.45.

The company has a market cap of $721,310.00, a P/E ratio of 33.65 and a beta of 0.94. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the consensus estimate of $8.31 by $1.26. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the business earned $9.06 earnings per share.

Several large investors have recently modified their holdings of GOOG. Capital Investment Advisory Services LLC lifted its position in Alphabet by 0.4% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after buying an additional 1 shares in the last quarter. Capital Advantage Inc. lifted its position in Alphabet by 0.4% in the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after buying an additional 1 shares in the last quarter. Foster & Motley Inc. lifted its position in Alphabet by 0.8% in the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock worth $241,000 after buying an additional 2 shares in the last quarter. Gradient Investments LLC lifted its position in Alphabet by 0.6% in the 2nd quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock worth $460,000 after buying an additional 3 shares in the last quarter. Finally, Saratoga Research & Investment Management lifted its position in Alphabet by 1.2% in the 2nd quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock worth $234,000 after buying an additional 3 shares in the last quarter. Institutional investors and hedge funds own 34.74% 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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