Alphabet Inc. (NASDAQ:GOOG) is Mengis Capital Management Inc.’s 6th Largest Position

Mengis Capital Management Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 65,568 shares of the information services provider’s stock after selling 1,989 shares during the period. Alphabet makes up approximately 2.6% of Mengis Capital Management Inc.’s holdings, making the stock its 6th largest holding. Mengis Capital Management Inc.’s holdings in Alphabet were worth $12,487,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Weiss Asset Management LP bought a new position in Alphabet during the 3rd quarter valued at about $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. boosted its holdings in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, FPC Investment Advisory Inc. grew its position in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 167 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GOOG shares. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Oppenheimer increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,188 shares of company stock worth $25,036,883. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $170.21 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The firm has a market capitalization of $2.07 trillion, a PE ratio of 21.14, a P/E/G ratio of 1.34 and a beta of 1.00. The business’s 50 day moving average price is $192.59 and its 200-day moving average price is $177.59.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is presently 9.94%.

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.