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

Mendel Money Management lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,052 shares of the information services provider’s stock after selling 1,216 shares during the quarter. Alphabet accounts for 2.5% of Mendel Money Management’s investment portfolio, making the stock its 5th biggest position. Mendel Money Management’s holdings in Alphabet were worth $5,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Kingstone Capital Partners Texas LLC lifted its stake in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new stake in Alphabet during the 1st quarter worth $2,622,943,000. Vanguard Group Inc. lifted its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio acquired a new position in Alphabet in the 1st quarter worth $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 2.4%

Shares of Alphabet stock 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 firm 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 business has a 50-day moving average price of $243.09 and a 200 day moving average price of $199.85.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent analyst reports. Mizuho set a $325.00 price objective on shares of Alphabet in a report on Thursday. Pivotal Research boosted their price objective on shares of Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research boosted their price objective on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday. Cantor Fitzgerald set a $310.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $324.81.

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.