Mendel Money Management Has $5.20 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Mendel Money Management lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,268 shares of the information services provider's stock after selling 1,537 shares during the period. Alphabet comprises 2.5% of Mendel Money Management's portfolio, making the stock its 6th largest holding. Mendel Money Management's holdings in Alphabet were worth $5,197,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after purchasing an additional 20,855 shares during the last quarter. Zions Bancorporation N.A. grew its stake in Alphabet by 34.2% in the fourth quarter. Zions Bancorporation N.A. now owns 11,811 shares of the information services provider's stock worth $2,249,000 after purchasing an additional 3,008 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Alphabet in the fourth quarter valued at about $151,000. Finally, Summitry LLC raised its stake in Alphabet by 7.8% during the fourth quarter. Summitry LLC now owns 14,523 shares of the information services provider's stock valued at $2,766,000 after buying an additional 1,047 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOOG shares. KeyCorp lowered their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a research note on Thursday. Westpark Capital restated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $215.19.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $0.88 during trading on Friday, hitting $194.08. The company had a trading volume of 31,074,800 shares, compared to its average volume of 27,020,362. The stock has a 50 day simple moving average of $176.86 and a 200 day simple moving average of $174.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet's payout ratio is 8.95%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock valued at $43,523,710 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.