Alphabet Inc. $GOOG Stock Position Lowered by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 568,111 shares of the information services provider’s stock after selling 22,760 shares during the quarter. Alphabet accounts for 2.0% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its 9th largest holding. Mesirow Financial Investment Management Inc.’s holdings in Alphabet were worth $100,778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. IFS Advisors LLC raised its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the period. Robbins Farley raised its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC raised its stake in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Fairman Group LLC raised its position in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research analyst reports. Cantor Fitzgerald set a $310.00 target price on Alphabet and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Wolfe Research boosted their price objective on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 price target on shares of Alphabet in a research note on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $281.82 on Friday. The stock’s 50-day moving average is $244.59 and its two-hundred day moving average is $200.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. The company has a market cap of $3.41 trillion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the prior year, the business earned $2.12 EPS. Alphabet’s revenue was up 15.9% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.