Alphabet Inc. $GOOGL Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,510 shares of the information services provider’s stock after selling 226 shares during the period. Mengis Capital Management Inc.’s holdings in Alphabet were worth $1,676,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Mystic Asset Management Inc. lifted its holdings in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co grew its holdings in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC increased its position in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC raised its stake in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $253.30 on Monday. The firm has a market cap of $3.06 trillion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.96. The stock has a 50-day simple moving average of $231.55 and a 200-day simple moving average of $192.14.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Rosenblatt Securities upped their price target on Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. UBS Group raised their price objective on Alphabet from $237.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Westpark Capital lifted their price objective on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $252.24.

Alphabet Profile

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.