Mendel Money Management bought a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,072 shares of the information services provider’s stock, valued at approximately $3,215,000. Alphabet accounts for about 3.1% of Mendel Money Management’s portfolio, making the stock its 17th largest position.
Other large investors have also bought and sold shares of the company. Rothschild Capital Partners LLC acquired a new position in shares of Alphabet during the third quarter worth about $3,161,000. Founders Capital Management LLC boosted its position in shares of Alphabet by 1,868.4% during the third quarter. Founders Capital Management LLC now owns 9,468 shares of the information services provider’s stock worth $9,081,000 after buying an additional 8,987 shares during the period. Quantitative Systematic Strategies LLC boosted its position in shares of Alphabet by 285.8% during the third quarter. Quantitative Systematic Strategies LLC now owns 1,408 shares of the information services provider’s stock worth $1,350,000 after buying an additional 1,043 shares during the period. Argent Trust Co boosted its position in shares of Alphabet by 3.7% during the third quarter. Argent Trust Co now owns 2,110 shares of the information services provider’s stock worth $2,024,000 after buying an additional 75 shares during the period. Finally, Commonwealth Equity Services Inc boosted its position in shares of Alphabet by 4.4% during the third quarter. Commonwealth Equity Services Inc now owns 47,546 shares of the information services provider’s stock worth $45,602,000 after buying an additional 1,999 shares during the period. 34.84% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on GOOG shares. Vetr cut Alphabet from a “hold” rating to a “sell” rating and set a $1,019.04 price objective for the company. in a research report on Wednesday, December 20th. BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. UBS reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. Piper Jaffray upped their price objective on Alphabet from $1,150.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,089.34.
NASDAQ:GOOG opened at $1,037.98 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The company has a market capitalization of $715,119.31, a price-to-earnings ratio of 32.39 and a beta of 1.08. Alphabet Inc. has a 12-month low of $824.47 and a 12-month high of $1,186.89.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.07 by ($0.37). The business had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. Alphabet’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.36 EPS.
Alphabet declared that its Board of Directors has authorized a share buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $1,127.17, for a total transaction of $4,508,680.00. Following the transaction, the chief executive officer now owns 656 shares in the company, valued at $739,423.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director L John Doerr sold 11,575 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $1,079.99, for a total value of $12,500,884.25. Following the transaction, the director now owns 3,485 shares in the company, valued at approximately $3,763,765.15. The disclosure for this sale can be found here. Insiders sold 54,410 shares of company stock worth $58,606,136 in the last 90 days. Corporate insiders own 13.92% of the company’s stock.
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Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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