Traders Buy Shares of Alphabet (GOOGL) on Weakness

Investors purchased shares of Alphabet Inc (NASDAQ:GOOGL) on weakness during trading hours on Friday. $372.24 million flowed into the stock on the tick-up and $284.16 million flowed out of the stock on the tick-down, for a money net flow of $88.08 million into the stock. Of all stocks tracked, Alphabet had the 7th highest net in-flow for the day. Alphabet traded down ($0.88) for the day and closed at $1,149.97

Several brokerages have recently weighed in on GOOGL. Needham & Company LLC began coverage on Alphabet in a research report on Monday. They set a “buy” rating and a $1,153.42 price target on the stock. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, February 18th. Nomura reiterated an “outperform” rating on shares of Alphabet in a research report on Wednesday, February 6th. William Blair reiterated an “outperform” rating on shares of Alphabet in a research report on Tuesday, February 5th. Finally, Wells Fargo & Co set a $1,300.00 price target on Alphabet and gave the company a “buy” rating in a research report on Tuesday, February 5th. Three analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $1,314.86.

Get Alphabet alerts:

The company has a quick ratio of 3.89, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $776.22 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Truehand Inc purchased a new stake in shares of Alphabet in the 4th quarter worth $39,000. Vestor Capital LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth $62,000. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Alphabet by 44.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 65 shares of the information services provider’s stock worth $68,000 after buying an additional 20 shares during the period. Lavaca Capital LLC purchased a new stake in shares of Alphabet in the 4th quarter worth $97,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Alphabet in the 4th quarter worth $98,000. 33.33% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: “Traders Buy Shares of Alphabet (GOOGL) on Weakness” was posted by Ticker Report and is owned by of Ticker Report. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/4207424/traders-buy-shares-of-alphabet-googl-on-weakness.html.

Alphabet Company Profile (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.

Featured Story: How to execute a trade ex-dividend strategy?