This article first appeared on GuruFocus.
Invesco QQQ (QQQ) led the ETF activity on Tuesday, Nov. 10, adding $80.5 million of Alphabet (GOOG) as part of a net $83.8 million bought by funds overall. Thirty-five ETFs were buyers against 18 sellers, while 138 held their positions. The buying extended a three-day streak, following net inflows of $183.6 million on Nov. 9 and $111.3 million on Nov. 6, after outflows of $94.4 million on Nov. 5 and $56.5 million on Nov. 4.
More on GuruFocus: ETF Trends | ETF Screener
For the full record of ETF and guru buying and selling in GOOG, see the GOOG guru trades page.
Which ETFs bought GOOG on Tuesday?
The largest buyers by dollar value were QQQ ($80.5 million), SPY ($43.0 million) and QQQM ($6.5 million). In all, 35 ETFs added shares and 18 cut them.
QQQ accounted for the bulk of the move, raising its stake by 0.67% to 42,628,235 shares at a 2.62% portfolio weight. SPY added $43.0 million, QQQM $6.5 million, SPYM $4.1 million, QLD $3.3 million and TQQQ $2.9 million, with smaller additions from CGGR and DFUS. Alphabet sits in the Communication Services sector and the Internet Content & Information industry, with a market cap of $3.59 trillion.
Have ETFs been buying or selling GOOG lately?
Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.
What does GOOG do?
Alphabet is a holding company whose largest business is Google, reported in two segments: Google Services and Google Cloud, with non-Google businesses grouped as Other Bets. Google Services generates most of Alphabet’s revenue, primarily from advertising on Google Search, YouTube, and partner properties, and also includes Android, Chrome, Google Play, Maps, Gmail, and devices.
Alphabet reported trailing-12-month revenue of $471.14 billion, up 21.9% over one year, with a gross margin of 60.9% and a net margin of 50.0%. Its P/E is 15.32, P/B 5.47 and P/S 7.65, against a market cap of $3.59 trillion. The GF Score is 98, and the GF Value of $272.49 compares with a price of $290.63. The dividend yield is 0.26% and the year-to-date return is -7.2%.