Traders Buy Shares of Alphabet Inc Class A (GOOGL) on Weakness

Traders purchased shares of Alphabet Inc Class A (NASDAQ:GOOGL) on weakness during trading on Friday. $320.95 million flowed into the stock on the tick-up and $203.00 million flowed out of the stock on the tick-down, for a money net flow of $117.95 million into the stock. Of all companies tracked, Alphabet Inc Class A had the 5th highest net in-flow for the day. Alphabet Inc Class A traded down ($1.37) for the day and closed at $1,084.08

GOOGL has been the topic of a number of research reports. Barclays upped their price objective on Alphabet Inc Class A from $1,260.00 to $1,330.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Vetr raised Alphabet Inc Class A from a “buy” rating to a “strong-buy” rating and set a $1,192.20 price objective on the stock in a report on Friday, March 23rd. B. Riley upped their price objective on Alphabet Inc Class A from $1,200.00 to $1,375.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Deutsche Bank reaffirmed a “buy” rating and issued a $1,400.00 price objective on shares of Alphabet Inc Class A in a report on Monday, January 29th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Alphabet Inc Class A in a report on Tuesday, April 24th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $1,201.44.

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The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. The stock has a market capitalization of $753.38 billion, a price-to-earnings ratio of 33.82, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05.

Alphabet Inc Class A (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, topping the consensus estimate of $9.21 by $0.72. Alphabet Inc Class A had a return on equity of 15.58% and a net margin of 14.19%. The business had revenue of $24.86 billion during the quarter, compared to the consensus estimate of $24.20 billion. During the same period in the prior year, the company earned $7.73 EPS. equities analysts forecast that Alphabet Inc Class A will post 40.62 EPS for the current year.

Alphabet Inc Class A announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in GOOGL. Well Done LLC bought a new position in Alphabet Inc Class A in the first quarter valued at about $107,000. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in Alphabet Inc Class A in the fourth quarter valued at about $108,000. Westchester Capital Management Inc. raised its position in Alphabet Inc Class A by 1,262.5% in the first quarter. Westchester Capital Management Inc. now owns 109 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 101 shares during the last quarter. Stuart Chaussee & Associates Inc. bought a new position in Alphabet Inc Class A in the fourth quarter valued at about $123,000. Finally, KHP Capital LLC bought a new position in Alphabet Inc Class A in the first quarter valued at about $124,000. Institutional investors and hedge funds own 33.39% of the company’s stock.

Alphabet Inc Class A Company Profile

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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