Mengis Capital Management Inc. Invests $5.72 Million in Alphabet Inc (NASDAQ:GOOG)

Mengis Capital Management Inc. acquired a new position in shares of Alphabet Inc (NASDAQ:GOOG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,689 shares of the information services provider’s stock, valued at approximately $5,715,000. Alphabet makes up 1.7% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 11th largest holding.

Several other institutional investors also recently made changes to their positions in GOOG. Griffin Asset Management Inc. increased its holdings in shares of Alphabet by 0.5% during the 3rd quarter. Griffin Asset Management Inc. now owns 2,444 shares of the information services provider’s stock worth $2,979,000 after acquiring an additional 13 shares during the last quarter. Capital Management Associates NY increased its holdings in shares of Alphabet by 1.3% during the 3rd quarter. Capital Management Associates NY now owns 795 shares of the information services provider’s stock worth $969,000 after acquiring an additional 10 shares during the last quarter. Little House Capital LLC acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $1,660,000. Frisch Financial Group Inc. increased its holdings in shares of Alphabet by 4.9% during the 3rd quarter. Frisch Financial Group Inc. now owns 1,071 shares of the information services provider’s stock worth $1,306,000 after acquiring an additional 50 shares during the last quarter. Finally, Rossmore Private Capital increased its holdings in shares of Alphabet by 31.6% during the 3rd quarter. Rossmore Private Capital now owns 1,872 shares of the information services provider’s stock worth $2,282,000 after acquiring an additional 450 shares during the last quarter. Institutional investors own 33.78% of the company’s stock.

A number of research analysts recently weighed in on the company. UBS Group reissued a “buy” rating on shares of Alphabet in a report on Monday, November 4th. ValuEngine lowered Alphabet from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Cowen boosted their target price on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $1,460.27.

NASDAQ GOOG traded down $12.18 on Monday, reaching $1,299.19. The stock had a trading volume of 1,002,956 shares, compared to its average volume of 1,444,560. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75. The firm has a fifty day moving average of $1,241.41 and a two-hundred day moving average of $1,179.65. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,323.74. The company has a market cap of $895.89 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.58 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing analysts’ consensus estimates of $12.57 by ($2.45). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The firm had revenue of $40.50 billion during the quarter, compared to analyst estimates of $40.17 billion. During the same period in the prior year, the company earned $13.06 earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. Research analysts predict that Alphabet Inc will post 49.05 EPS for the current fiscal year.

In other news, CAO Amie Thuener O’toole sold 54 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $1,191.53, for a total transaction of $64,342.62. Following the completion of the sale, the chief accounting officer now directly owns 388 shares in the company, valued at approximately $462,313.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 50 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $1,276.45, for a total value of $63,822.50. Following the sale, the director now owns 1,823 shares of the company’s stock, valued at $2,326,968.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,043 shares of company stock worth $40,364,988. Insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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