This article first appeared on GuruFocus.
ETFs sold a net $76.6 million of Alphabet (GOOGL) shares last Thursday, with 12 ETFs selling and 49 buying, meaning more funds traded the other way but in smaller amounts. The move followed four straight days of net buying: $142.5 million on Oct. 14, $219.3 million on Oct. 13, $128.1 million on Oct. 12 and $187.1 million on Oct. 9. ETF activity left 167 funds holding the stock unchanged. The selling streak now stands at one day.
Every ETF and guru trade in GOOGL is tracked on the GOOGL guru trades page.
Which ETFs sold GOOGL on Thursday?
The largest sellers by dollar value were SPY ($135.1 million), IVV ($20.2 million) and IWF ($11.6 million). In all, 49 ETFs added shares and 12 cut them.
SPY accounted for the largest share of the move, cutting 386,916 shares for a $135.1 million reduction, a 0.53% change in its stake and 3.08% of its weight. IVV trimmed 57,834 shares ($20.2 million), IWF cut 33,232 shares ($11.6 million) and CGUS reduced 12,712 shares ($4.4 million). Smaller reductions came from IWY, ESGU, SNPE and RSP. Alphabet sits in the Communication Services sector and the Internet Content & Information industry, with a market cap of $4.17 trillion.
Have ETFs been buying or selling GOOGL lately?
Over the last 5 reported days, ETFs were net buyers on 4 and net sellers on 1, so the recent trend is mostly buying.
What does GOOGL 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 $446.31 billion, up 20.9% over one year, with gross margin of 60.9% and net margin of 54.7%. Its P/E is 17.11, P/B 6.69 and P/S 9.3. The GF Score is 97, and GF Value of $258.70 compares with a price of $340.59. The dividend yield is 0.25% and the year-to-date return is 9.03%.