Google (GOOG) : Net money flow in Google (GOOG) was negative ($91.03 million) and the inflow of money on uptick was $201.52 million, whereas, the outflow of money on downticks amounted to $292.55 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.69. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $94.78 million. The money flow in block trades was negative ($94.78). Google (GOOG) gained $4.23 cent during the day and reached $741.19, a gain of 0.57% over the previous day.
Also, Deutsche Bank maintains their rating on the shares of Google (NASDAQ:GOOG). The current rating of the shares is Buy. Equity Analysts at the Firm raises the price target to $1.10K per share from $1.08K per share. The rating by the firm was issued on April 22, 2016.
Google (NASDAQ:GOOG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $737.33 and $737.10 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $742.13. The buying momentum continued till the end and the stock did not give up its gains. It closed at $741.19, notching a gain of 0.57% for the day. The total traded volume was 1,289,671 . The stock had closed at $736.96 on the previous day.
The stock has recorded a 20-day Moving Average of 5.49% and the 50-Day Moving Average is 4.23%. In a related news,The officer (SVP, Corporate Development) of Alphabet Inc., Drummond David C sold 5,000 shares at $725.52 on July 12, 2016. The Insider selling transaction had a total value worth of $3,627,600. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Alphabet Inc (Alphabet) is a collection of Companies. The Companys collection include Calico, Googles health and longevity effort; Nest its connected home business; Fiber, its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital, and incubator projects, such as Google X. These will be managed separately in Alphabet. On October 2, 2015, Google implemented a holding company reorganization pursuant to the Agreement and Plan of Merger (the Merger Agreement), dated as of October 2, 2015, among Google, Alphabet and Maple Technologies Inc., a Delaware corporation (Merger Sub), which resulted in Alphabet owning all of the outstanding capital stock of Google. Pursuant to the Alphabet Merger, Merger Sub, a direct, wholly owned subsidiary of Alphabet and an indirect, wholly owned subsidiary of Google, merged with and into Google, with Google surviving as a direct, wholly owned subsidiary of Alphabet.