Alphabet Inc. $GOOG Stock Holdings Trimmed by Mengis Capital Management Inc.

Mengis Capital Management Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.7% during the 2nd quarter, Holdings Channel reports. The firm owned 63,313 shares of the information services provider’s stock after selling 1,760 shares during the quarter. Alphabet comprises 2.4% of Mengis Capital Management Inc.’s portfolio, making the stock its 8th largest holding. Mengis Capital Management Inc.’s holdings in Alphabet were worth $11,231,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI grew its stake in Alphabet by 1.3% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 64,852 shares of the information services provider’s stock valued at $11,504,000 after purchasing an additional 835 shares during the last quarter. Pinion Investment Advisors LLC grew its stake in Alphabet by 12.2% during the 2nd quarter. Pinion Investment Advisors LLC now owns 1,726 shares of the information services provider’s stock valued at $306,000 after purchasing an additional 187 shares during the last quarter. Stiles Financial Services Inc grew its stake in Alphabet by 4.9% during the 2nd quarter. Stiles Financial Services Inc now owns 19,993 shares of the information services provider’s stock valued at $3,547,000 after purchasing an additional 940 shares during the last quarter. Coordinated Financial Services Inc. purchased a new stake in Alphabet during the 2nd quarter valued at about $245,000. Finally, Vantage Point Financial LLC grew its stake in Alphabet by 6.3% during the 2nd quarter. Vantage Point Financial LLC now owns 3,761 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred 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 directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,338 shares of company stock valued at $59,062,683. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GOOG shares. Morgan Stanley boosted their price target on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. UBS Group set a $255.00 price objective on Alphabet and gave the company a “neutral” rating in a report on Thursday. Finally, Pivotal Research boosted their price objective on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $241.00.

Alphabet Stock Performance

NASDAQ GOOG opened at $244.64 on Tuesday. The stock has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $227.94 and a 200 day moving average of $190.61.

Alphabet (NASDAQ:GOOG) 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 $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

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.