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% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,910 shares of the information services provider’s stock after purchasing an additional 8,462 shares during the quarter. Mechanics Financial Corp’s holdings in Alphabet were worth $857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. OLD Second National Bank of Aurora lifted its holdings in shares of Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after buying an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC lifted its holdings in shares of Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares in the last quarter. NewSquare Capital LLC lifted its holdings in shares of Alphabet by 1,900.0% during the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after buying an additional 304 shares in the last quarter. Schubert & Co lifted its holdings in shares of Alphabet by 1,192.9% during the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after buying an additional 334 shares in the last quarter. Finally, Corsicana & Co. lifted its holdings in shares of Alphabet by 1,900.0% during the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 380 shares in the last quarter. 28.69% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of Alphabet stock in a transaction that occurred on Wednesday, November 9th. The shares were acquired at an average cost of $34.60 per share, for a total transaction of $6,307,995.20. Following the completion of the acquisition, the insider now directly owns 1,294,527 shares of the company’s stock, valued at approximately $44,790,634.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’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 value of $4,149,665.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 661,702 shares of company stock worth $23,399,217 and have sold 190,464 shares worth $8,535,735. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $101.21 on Tuesday. The stock has a market cap of $1.31 trillion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average is $93.62 and its 200-day moving average is $102.10. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $152.10.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group set a $135.00 price target on Alphabet in a research note on Friday, November 18th. UBS Group set a $115.00 price target on Alphabet in a research note on Thursday, January 12th. JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a research note on Wednesday, October 26th. Piper Sandler dropped their price target on Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 26th. Finally, Cowen dropped their price target on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Profile

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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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