Mechanics Financial Corp Buys 8,462 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mechanics Financial Corp boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,888.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,910 shares of the information services provider’s stock after acquiring an additional 8,462 shares during the quarter. Mechanics Financial Corp’s holdings in Alphabet were worth $857,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. DC Investments Management LLC acquired a new position in Alphabet during the 1st quarter valued at about $115,000. Guardian Wealth Management Inc. acquired a new position in Alphabet during the 1st quarter valued at about $184,000. Turim 21 Investimentos Ltda. lifted its position in Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the period. OneAscent Financial Services LLC acquired a new position in Alphabet during the 2nd quarter valued at about $203,000. Finally, Aspireon Wealth Advisors acquired a new position in Alphabet during the 2nd quarter valued at about $212,000. Institutional investors own 28.69% of the company’s stock.

Insider Transactions at Alphabet

In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 360 shares of the firm’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $98.48, for a total transaction of $35,452.80. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,112,824. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $101.21 on Tuesday. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 20.10, a P/E/G ratio of 1.74 and a beta of 1.08. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The company has a 50 day moving average of $93.62 and a 200-day moving average of $102.10. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). The business had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $70.67 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. Alphabet’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Sanford C. Bernstein set a $120.00 target price on shares of Alphabet in a research report on Thursday, January 12th. Raymond James cut their price target on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Cowen cut their price target on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Cowen cut their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. Finally, Societe Generale cut their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.56.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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