Manitou Investment Management Ltd. Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Manitou Investment Management Ltd. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 290,974 shares of the information services provider’s stock after selling 211 shares during the quarter. Alphabet accounts for 10.9% of Manitou Investment Management Ltd.’s portfolio, making the stock its 2nd biggest position. Manitou Investment Management Ltd.’s holdings in Alphabet were worth $55,081,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. International Assets Investment Management LLC lifted its position in Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC lifted its position in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of Alphabet by 115.4% during the second quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider’s stock valued at $1,264,022,000 after buying an additional 3,718,420 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.1 %

GOOGL stock opened at $195.41 on Thursday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The business’s 50-day moving average is $187.14 and its two-hundred day moving average is $173.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,887 shares of company stock valued at $22,470,464. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Monday. Cantor Fitzgerald reduced their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $209.82.

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.