Mengis Capital Management Inc. Sells 4,070 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mengis Capital Management Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 5.4% during the third quarter, Holdings Channel reports. The fund owned 71,030 shares of the information services provider’s stock after selling 4,070 shares during the period. Alphabet makes up approximately 1.9% of Mengis Capital Management Inc.’s holdings, making the stock its 9th biggest holding. Mengis Capital Management Inc.’s holdings in Alphabet were worth $9,365,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet during the third quarter worth approximately $25,000. HWG Holdings LP bought a new stake in Alphabet in the second quarter valued at about $26,000. OLD Point Trust & Financial Services N A bought a new position in Alphabet during the second quarter worth about $31,000. Intrepid Capital Management Inc. acquired a new position in shares of Alphabet during the 2nd quarter worth about $31,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. 27.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on GOOG shares. Raymond James upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer restated an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research report on Wednesday, October 25th. Finally, Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average target price of $146.33.

View Our Latest Research Report on Alphabet

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 420 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $133.32, for a total transaction of $55,994.40. Following the completion of the transaction, the chief accounting officer now owns 26,833 shares in the company, valued at approximately $3,577,375.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $133.97, for a total value of $26,794.00. Following the transaction, the director now owns 6,984 shares in the company, valued at $935,646.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 420 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $133.32, for a total transaction of $55,994.40. Following the sale, the chief accounting officer now owns 26,833 shares of the company’s stock, valued at approximately $3,577,375.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,974 shares of company stock valued at $19,427,217. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG stock traded down $1.49 during midday trading on Monday, reaching $148.73. 17,181,700 shares of the stock were exchanged, compared to its average volume of 21,462,955. Alphabet Inc. has a 52 week low of $88.86 and a 52 week high of $155.20. The company has a fifty day moving average price of $142.15 and a 200 day moving average price of $136.93. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $1.86 trillion, a PE ratio of 25.90, a P/E/G ratio of 1.39 and a beta of 1.06.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. As a group, analysts expect that Alphabet Inc. will post 6.76 EPS for the current fiscal year.

Alphabet Company Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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