Mendel Money Management Sells 1,216 Shares of Alphabet Inc. $GOOG

Mendel Money Management cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,052 shares of the information services provider’s stock after selling 1,216 shares during the quarter. Alphabet makes up approximately 2.5% of Mendel Money Management’s portfolio, making the stock its 5th largest holding. Mendel Money Management’s holdings in Alphabet were worth $5,686,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. IFS Advisors LLC grew its position in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its stake in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC lifted its stake in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the period. Fairman Group LLC lifted its stake in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, 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 transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $281.90 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.41 trillion, a P/E ratio of 27.80, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93. The firm’s 50 day moving average is $243.09 and its two-hundred day moving average is $199.85.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.12 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Analyst Ratings Changes

GOOG has been the topic of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank set a $336.00 price objective on Alphabet and gave the stock a “sector outperform” rating in a report on Thursday. Barclays raised their price objective on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday. Bank of America raised their price objective on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group restated a “neutral” rating on shares of Alphabet in a report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Company 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.