Mendel Money Management raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 13.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,080 shares of the information services provider’s stock after purchasing an additional 1,755 shares during the period. Mendel Money Management’s holdings in Alphabet were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of GOOGL. Live Oak Investment Partners purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Alphabet in the 4th quarter valued at $34,000. Turim 21 Investimentos Ltda. acquired a new position in shares of Alphabet in the 3rd quarter valued at $38,000. IAG Wealth Partners LLC boosted its holdings in shares of Alphabet by 100.0% in the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Finally, AM Squared Ltd acquired a new position in shares of Alphabet in the 4th quarter valued at $44,000. 35.38% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have recently issued reports on GOOGL. Rosenblatt Securities upped their target price on shares of Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. JMP Securities upped their target price on shares of Alphabet from $132.00 to $138.00 and gave the company a “market outperform” rating in a report on Wednesday, July 26th. Jefferies Financial Group upped their target price on shares of Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Morgan Stanley upped their target price on shares of Alphabet from $150.00 to $155.00 in a report on Wednesday, July 26th. Finally, Citigroup increased their price target on shares of Alphabet from $130.00 to $153.00 in a research note on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $143.08.
Alphabet Price Performance
GOOGL opened at $129.88 on Friday. The company’s 50 day simple moving average is $125.09 and its 200 day simple moving average is $113.27. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $134.25. The stock has a market capitalization of $1.64 trillion, a PE ratio of 27.52, a P/E/G ratio of 1.49 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. During the same period last year, the company earned $1.21 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 5.68 EPS for the current year.
Insider Buying and Selling
In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of Alphabet stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $13.65, for a total transaction of $227,040.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the transaction, the director now directly owns 5,340 shares in the company, valued at $700,287.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,006 shares of company stock valued at $8,804,132. Insiders own 0.88% of the company’s stock.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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