U.S. tech stocks stumble again, extending latest selloff

Alain Brian
Juin 16, 2017

The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 $937.92, for a total value of $3,751,680.00. Following the completion of the sale, the insider now directly owns 85,916 shares in the company, valued at $77,558,091.52. Insiders have sold a total of 42,085 shares of company stock worth $38,486,001 over the last three months.

Alphabet Inc. has a 12-month low of $672.66 and a 12-month high of $1,008.61.

Shares of Alphabet (NASDAQ:GOOG) opened at 950.76 on Thursday. 2,133,050 shares of the company's stock were exchanged. The stock's 50 day moving average price is $965.53 and its 200 day moving average price is $867.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.24 by $0.49. Apple delivered a return on capital employed of 25 per cent in 2016 and sits on a $250bn cash pile, Alphabet's Google is widely considered the world's most valuable brand and Amazon's share price has climbed 340 per cent in the past five years. The company had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. In the last earnings report the EPS was $29.59 and is expected to be $33.95 for the current year with 691,748,000 shares now outstanding. The business's revenue for the quarter was up 22.2% on a year-over-year basis.

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Several hedge funds have recently modified their holdings of the stock. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Alphabet during the fourth quarter worth $341,958,000. State Street Corp now owns 12,067,675 shares of the information services provider's stock valued at $10,010,859,000 after buying an additional 36,864 shares in the last quarter. Blankinship & Foster LLC increased its stake in shares of Alphabet by 3.4% in the first quarter. Vanguard Group Inc. now owns 19,850,384 shares of the information services provider's stock valued at $16,467,085,000 after buying an additional 754,370 shares in the last quarter. MD now owns 9,831,305 shares of the information services provider's stock valued at $7,641,775,000 after buying an additional 65,873 shares in the last quarter.

Stillwater Investment Management LLC raised its position in shares of Alphabet Inc. IBIS Capital Partners LLP now owns 27,266 shares of the information services provider's stock valued at $21,194,000 after buying an additional 1,398 shares during the last quarter. Institutional investors and hedge funds own 35.09% of the company's stock.

Several other research firms have also commented on GOOG.

The tech-heavy Nasdaq composite index fell 1.4 percent while The S&P 500 information technology index was down 1.7 percent. Instinet reiterated a buy rating and set a $925.00 price objective on shares of Alphabet in a report on Tuesday, April 25th. William Blair reiterated an "outperform" rating on shares of Alphabet in a research report on Friday, March 3rd. Vetr raised shares of Alphabet from a "sell" rating to a "hold" rating and set a $924.24 price target for the company in a research report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and forty have issued a buy rating to the company. Alphabet has an average rating of "Buy" and an average price target of $1,010.39.

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