Traders Sell Alphabet Inc Class A (GOOGL) on Strength After Analyst Downgrade

Traders sold shares of Alphabet Inc Class A (NASDAQ:GOOGL) on strength during trading hours on Friday after Pivotal Research lowered their price target on the stock from $1,080.00 to $1,010.00. $569.83 million flowed into the stock on the tick-up and $743.65 million flowed out of the stock on the tick-down, for a money net flow of $173.82 million out of the stock. Of all stocks tracked, Alphabet Inc Class A had the 0th highest net out-flow for the day. Alphabet Inc Class A traded up $29.80 for the day and closed at $1,120.54

Several other brokerages also recently weighed in on GOOGL. Zacks Investment Research downgraded Alphabet Inc Class A from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. B. Riley upped their target price on Alphabet Inc Class A from $1,350.00 to $1,475.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. JMP Securities upped their target price on Alphabet Inc Class A from $1,235.00 to $1,390.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 24th. Nomura assumed coverage on Alphabet Inc Class A in a research report on Tuesday, July 10th. They issued a “buy” rating and a $1,400.00 target price for the company. Finally, SunTrust Banks upped their target price on Alphabet Inc Class A to $1,370.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1,315.01.

A number of large investors have recently added to or reduced their stakes in the business. Well Done LLC acquired a new stake in shares of Alphabet Inc Class A during the 1st quarter worth approximately $107,000. Westchester Capital Management Inc. increased its position in Alphabet Inc Class A by 1,262.5% in the 1st quarter. Westchester Capital Management Inc. now owns 109 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 101 shares during the period. KHP Capital LLC acquired a new stake in Alphabet Inc Class A in the 1st quarter valued at approximately $124,000. Private Ocean LLC increased its position in Alphabet Inc Class A by 355.6% in the 1st quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 96 shares during the period. Finally, ELM Advisors LLC acquired a new stake in Alphabet Inc Class A in the 3rd quarter valued at approximately $128,000. 33.53% of the stock is currently owned by institutional investors.

The company has a quick ratio of 4.13, a current ratio of 4.15 and a debt-to-equity ratio of 0.02. The stock has a market cap of $840.06 billion, a P/E ratio of 34.96, a P/E/G ratio of 1.53 and a beta of 1.11.

Alphabet Inc Class A (NASDAQ:GOOGL) last posted its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the consensus estimate of $9.51 by $2.24. Alphabet Inc Class A had a return on equity of 18.24% and a net margin of 13.16%. The firm had revenue of $26.24 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the firm earned $5.01 EPS. As a group, research analysts forecast that Alphabet Inc Class A will post 42.53 EPS for the current year.

About Alphabet Inc Class A (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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