ETFs Are Net Sellers of Alphabet (GOOGL) on Monday

This article first appeared on GuruFocus.

ETF flows for Alphabet (GOOGL) turned negative after a single day of net buying, with ETFs selling a net $81.8 million on Monday, Oct. 26. More funds traded the other way, however: 33 ETFs bought the stock versus 17 that sold, but in smaller amounts. The selling followed a $7.4 million net inflow on Oct. 23 and a $116.0 million net inflow on Oct. 22. Earlier in the stretch, ETFs sold a net $30.8 million on Oct. 21 and $139.4 million on Oct. 20.

Every ETF and guru trade in GOOGL is tracked on the GOOGL guru trades page.

Which ETFs sold GOOGL on Monday?

The largest sellers by dollar value were QQQ ($128.2 million), IVV ($20.5 million) and IWF ($12.6 million). In all, 33 ETFs added shares and 17 cut them.

QQQ drove the move, cutting 404,793 shares for a $128.2 million decline in value, a 0.91% reduction in its stake and 2.93% of its weight. IVV trimmed 64,733 shares worth $20.5 million, and IWF reduced holdings by 39,664 shares for $12.6 million. IWY sold 12,720 shares for $4.0 million, while XLC, the sector fund with a 12.19% weight, cut 7,948 shares for $2.5 million. Alphabet sits in Communication Services and the Internet Content & Information industry, with a market cap of $3.92 trillion.

Have ETFs been buying or selling GOOGL lately?

Over the last 5 reported days, ETFs were net buyers on 2 and net sellers on 3, so the recent trend is mostly selling.

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 a gross margin of 60.9% and a net margin of 54.7%. Its P/E is 16.11, P/B 6.3 and P/S 8.8, against a market cap of $3.92 trillion. The GF Score is 97, and GF Value of $260.24 compares with a price of $320.58. The dividend yield is 0.25%, and the stock is up 2.62% year to date.