Investors Buy Shares of Alphabet Inc. (GOOG) on Weakness After Insider Selling

Traders bought shares of Alphabet Inc. (NASDAQ:GOOG) on weakness during trading hours on Monday following insider selling activity. $425.51 million flowed into the stock on the tick-up and $393.01 million flowed out of the stock on the tick-down, for a money net flow of $32.50 million into the stock. Of all companies tracked, Alphabet had the 24th highest net in-flow for the day. Alphabet traded down ($11.03) for the day and closed at $930.50Specifically, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $968.95, for a total value of $177,317.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $903.86, for a total value of $3,615,440.00. Following the completion of the transaction, the chief executive officer now directly owns 1,911 shares in the company, valued at approximately $1,727,276.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,169 shares of company stock valued at $44,206,482. 13.92% of the stock is currently owned by insiders.

GOOG has been the topic of several research analyst reports. Pacific Crest restated an “overweight” rating and set a $1,040.00 price target on shares of Alphabet in a report on Sunday, April 23rd. Nomura restated a “buy” rating and set a $925.00 price target on shares of Alphabet in a report on Monday, April 24th. MKM Partners restated a “buy” rating and set a $1,000.00 price target on shares of Alphabet in a report on Tuesday, April 25th. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $902.06 price objective for the company. in a research note on Tuesday, April 25th. Finally, Instinet reaffirmed a “buy” rating and issued a $925.00 price objective on shares of Alphabet in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,030.56.

The company has a market cap of $630.98 billion, a P/E ratio of 33.00 and a beta of 0.94. The stock’s 50 day moving average is $933.52 and its 200 day moving average is $892.51.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. Alphabet’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the firm posted $8.42 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post $30.60 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in GOOG. Burt Wealth Advisors increased its stake in shares of Alphabet by 17.2% in the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after buying an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its position in Alphabet by 3.8% in the second 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 during the period. Riggs Asset Managment Co. Inc. increased its position in Alphabet by 39.6% in the second 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 during the period. Farmers National Bank increased its position in Alphabet by 15.0% in the first 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 during the period. Finally, Archford Capital Strategies LLC increased its position in Alphabet by 400.0% in the second 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 during the period. 34.57% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This article was reported by BNB Daily and is the property of of BNB Daily. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/19/investors-buy-shares-of-alphabet-inc-goog-on-weakness-after-insider-selling-updated-updated.html.

Alphabet Company Profile

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.

Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply