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

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Investors bought shares of Alphabet Inc Class A (NASDAQ:GOOGL) on weakness during trading on Thursday. $509.78 million flowed into the stock on the tick-up and $449.22 million flowed out of the stock on the tick-down, for a money net flow of $60.56 million into the stock. Of all companies tracked, Alphabet Inc Class A had the 13th highest net in-flow for the day. Alphabet Inc Class A traded down ($10.21) for the day and closed at $1,254.44

A number of analysts have weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $1,250.00 target price (up previously from $1,200.00) on shares of Alphabet Inc Class A in a research note on Thursday, June 28th. Credit Suisse Group reaffirmed an “outperform” rating and set a $1,330.00 target price (down previously from $1,350.00) on shares of Alphabet Inc Class A in a research note on Monday, July 16th. Macquarie reaffirmed a “buy” rating and set a $1,250.00 target price on shares of Alphabet Inc Class A in a research note on Monday. Citigroup reaffirmed a “buy” rating and set a $1,400.00 target price (up previously from $1,350.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $1,456.00 target price (up previously from $1,234.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. Five equities research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $1,307.23.

The firm has a market capitalization of $874.30 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 1.58 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15.

Alphabet Inc Class A (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping analysts’ consensus estimates of $9.51 by $2.24. The company had revenue of $26.24 billion for the quarter, compared to analyst estimates of $25.64 billion. Alphabet Inc Class A had a net margin of 13.16% and a return on equity of 18.24%. During the same quarter in the previous year, the business earned $5.01 earnings per share. equities research analysts expect that Alphabet Inc Class A will post 42.73 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in GOOGL. BlackRock Inc. raised its holdings in shares of Alphabet Inc Class A by 0.7% during the second quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock valued at $21,297,919,000 after purchasing an additional 128,040 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Alphabet Inc Class A by 134,676.9% during the first quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after purchasing an additional 17,925,496 shares during the period. FMR LLC raised its holdings in shares of Alphabet Inc Class A by 0.3% during the second quarter. FMR LLC now owns 15,576,039 shares of the information services provider’s stock valued at $17,588,307,000 after purchasing an additional 44,375 shares during the period. Geode Capital Management LLC raised its holdings in shares of Alphabet Inc Class A by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,285,692 shares of the information services provider’s stock valued at $3,454,154,000 after purchasing an additional 87,329 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Alphabet Inc Class A by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock valued at $3,669,682,000 after purchasing an additional 24,188 shares during the period. Institutional investors and hedge funds own 33.60% of the company’s stock.

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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