Google (GOOG) : Investors lapped up stocks on upticks to the tune of $258.78 million in the Tuesdays trading session. The trading value on downticks was comparatively at $189.68 million and the uptick to downtick ratio of 1.36 indicates continuous buying by the bulls. The net money flow into the stock was $69.1 million. Upticks saw transactions worth $72.79 clearly indicating buying by large investors. The total money flow for block trades stood at $72.79 million, which is a positive for the stock in the long-term. Google (GOOG) fell $3.06 during the day at $769.09, a drop of -0.4% over the previous days close. However, for the week, the stock is -0.06%, compared to the previous week.
Also, JP Morgan maintains its rating on Google (NASDAQ:GOOG). The global brokerage major raises the current price target from $920 per share to $950 per share. Analysts at the JP Morgan have a current rating of Overweight on the shares. The rating by the firm was issued on July 29, 2016.
Alphabet Inc. has lost 0.39% in the last five trading days and dropped 0.49% in the last 4 weeks. Alphabet Inc. is up 4.76% in the last 3-month period. Year-to-Date the stock performance stands at 1.35%.
Google (NASDAQ:GOOG): The stock opened at $769.33 on Tuesday but the bulls could not build on the opening and the stock topped out at $774.47 for the day. The stock traded down to $766.84 during the day, due to lack of any buying support eventually closed down at $769.09 with a loss of -0.40% for the day. The stock had closed at $772.15 on the previous day. The total traded volume was 1,130,029 shares.
In a related news, Page Lawrence, director officer 10% owner (Chief Executive Offic of Alphabet Inc., unloaded 33,332 shares at an average price of $793.48 on August 18, 2016. The total amount of the transaction was worth $26,448,275, according to the disclosed information 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.