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

Mengis Capital Management Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,255 shares of the information services provider’s stock after selling 775 shares during the period. Alphabet accounts for about 1.9% of Mengis Capital Management Inc.’s portfolio, making the stock its 9th largest position. Mengis Capital Management Inc.’s holdings in Alphabet were worth $9,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet in the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet in the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC purchased a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. purchased a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GOOG shares. Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Raymond James boosted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $159.86.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $159.92 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The company has a 50 day simple moving average of $147.92 and a two-hundred day simple moving average of $142.27. The stock has a market cap of $1.99 trillion, a price-to-earnings ratio of 27.57, a PEG ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the previous year, the business posted $1.05 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

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.