Mendel Capital Management LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Mendel Capital Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 64.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,412 shares of the information services provider’s stock after acquiring an additional 941 shares during the period. Mendel Capital Management LLC’s holdings in Alphabet were worth $400,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Holistic Financial Partners increased its position in Alphabet by 12.0% during the third quarter. Holistic Financial Partners now owns 3,568 shares of the information services provider’s stock valued at $592,000 after acquiring an additional 382 shares during the last quarter. Aviso Wealth Management lifted its holdings in shares of Alphabet by 3.6% in the 3rd quarter. Aviso Wealth Management now owns 43,583 shares of the information services provider’s stock worth $7,228,000 after buying an additional 1,526 shares during the period. LMR Partners LLP purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $32,000. Taurus Asset Management LLC increased its holdings in shares of Alphabet by 3.3% in the 3rd quarter. Taurus Asset Management LLC now owns 7,542 shares of the information services provider’s stock valued at $1,251,000 after acquiring an additional 242 shares during the period. Finally, Richard C. Young & CO. LTD. raised its position in shares of Alphabet by 1.6% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 113,878 shares of the information services provider’s stock worth $18,887,000 after acquiring an additional 1,753 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. DA Davidson initiated coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. KeyCorp upped their price objective on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Performance

Alphabet stock opened at $168.95 on Monday. The stock has a market cap of $2.07 trillion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The stock has a 50 day moving average of $168.47 and a 200-day moving average of $170.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company earned $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

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.