Mendel Money Management Acquires 253 Shares of Alphabet Inc. $GOOGL

Mendel Money Management grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,782 shares of the information services provider’s stock after buying an additional 253 shares during the quarter. Alphabet accounts for approximately 1.5% of Mendel Money Management’s holdings, making the stock its 24th biggest holding. Mendel Money Management’s holdings in Alphabet were worth $3,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Mystic Asset Management Inc. raised its holdings in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Alaethes Wealth LLC raised its stake in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares in the last quarter. Moment Partners LLC boosted its holdings in shares of Alphabet by 9.3% in the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. boosted its holdings in shares of Alphabet by 8.4% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock valued at $4,832,000 after buying an additional 2,434 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 2.1%

Shares of GOOGL stock opened at $278.83 on Monday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The company has a market capitalization of $3.37 trillion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm has a 50 day moving average price of $251.23 and a two-hundred day moving average price of $204.90. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a research report on Wednesday, October 22nd. Loop Capital lifted their price objective on shares of Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Citic Securities upped their target price on shares of Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Piper Sandler reiterated an “overweight” rating and issued a $330.00 target price (up from $285.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the sale, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. The trade was a 1.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,396 shares of company stock valued at $54,105,275 in the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Company 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.