Mechanics Bank Trust Department Has $4.87 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Mechanics Bank Trust Department grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,115 shares of the information services provider’s stock after purchasing an additional 380 shares during the period. Mechanics Bank Trust Department’s holdings in Alphabet were worth $4,868,000 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 the business. Montis Financial LLC raised its holdings in shares of Alphabet by 17.6% in the third quarter. Montis Financial LLC now owns 7,757 shares of the information services provider’s stock valued at $1,297,000 after purchasing an additional 1,160 shares during the last quarter. Code Waechter LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $579,000. Guinness Atkinson Asset Management Inc raised its holdings in shares of Alphabet by 11.1% in the third quarter. Guinness Atkinson Asset Management Inc now owns 2,560 shares of the information services provider’s stock valued at $428,000 after purchasing an additional 256 shares during the last quarter. Next Level Private LLC grew its stake in shares of Alphabet by 5.0% in the third quarter. Next Level Private LLC now owns 28,543 shares of the information services provider’s stock valued at $4,772,000 after buying an additional 1,362 shares in the last quarter. Finally, Asio Capital LLC grew its stake in shares of Alphabet by 1.2% in the third quarter. Asio Capital LLC now owns 82,681 shares of the information services provider’s stock valued at $13,823,000 after buying an additional 966 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOG. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Scotiabank began coverage on shares of Alphabet in a research note on Friday. They issued a “sector outperform” rating and a $212.00 target price for the company. Pivotal Research began coverage on shares of Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price for the company. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,092 shares of company stock valued at $35,644,136. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.8 %

GOOG stock opened at $164.52 on Friday. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a fifty day moving average price of $162.81 and a two-hundred day moving average price of $169.25.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

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.