Alphabet Inc. (NASDAQ:GOOG) Stock Position Lowered by Mengis Capital Management Inc.

Mengis Capital Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,557 shares of the information services provider’s stock after selling 989 shares during the quarter. Alphabet accounts for 2.2% of Mengis Capital Management Inc.’s holdings, making the stock its 10th largest holding. Mengis Capital Management Inc.’s holdings in Alphabet were worth $11,295,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Alphabet by 360.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after purchasing an additional 15,848 shares during the last quarter. Quent Capital LLC increased its stake in Alphabet by 5.8% during the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after purchasing an additional 1,798 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Alphabet by 19.0% in the first quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after buying an additional 13,756 shares during the last quarter. Motley Fool Asset Management LLC increased its position in shares of Alphabet by 5.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 485,420 shares of the information services provider’s stock valued at $73,910,000 after acquiring an additional 23,833 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. raised its stake in Alphabet by 2.0% in the 1st quarter. Baltimore Washington Financial Advisors Inc. now owns 205,197 shares of the information services provider’s stock worth $31,243,000 after acquiring an additional 3,964 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $183.32 on Wednesday. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The business has a fifty day moving average of $165.75 and a two-hundred day moving average of $171.50. The stock has a market cap of $2.24 trillion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Alphabet’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,752 shares of company stock valued at $40,156,829. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research reports. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Barclays raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Citigroup upped their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.