Manchester Financial Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,060 shares of the information services provider’s stock after selling 173 shares during the period. Manchester Financial Inc.’s holdings in Alphabet were worth $270,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Pictet & Cie Europe SA raised its holdings in shares of Alphabet by 6.0% during the fourth quarter. Pictet & Cie Europe SA now owns 1,493,987 shares of the information services provider’s stock valued at $131,814,000 after acquiring an additional 84,517 shares during the period. Founders Financial Securities LLC raised its holdings in shares of Alphabet by 34.0% during the fourth quarter. Founders Financial Securities LLC now owns 3,873 shares of the information services provider’s stock valued at $342,000 after acquiring an additional 983 shares during the period. Lockheed Martin Investment Management Co. lifted its stake in Alphabet by 32.7% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 199,882 shares of the information services provider’s stock worth $17,635,000 after acquiring an additional 49,230 shares in the last quarter. Glenview Trust Co lifted its stake in Alphabet by 10.7% in the 4th quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock worth $40,483,000 after acquiring an additional 44,278 shares in the last quarter. Finally, Donoghue Forlines LLC lifted its stake in Alphabet by 83.6% in the 4th quarter. Donoghue Forlines LLC now owns 8,182 shares of the information services provider’s stock worth $722,000 after acquiring an additional 3,726 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Performance
NASDAQ GOOGL opened at $117.51 on Friday. The stock has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.35 and a beta of 1.10. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $122.43. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $103.71 and a 200 day moving average of $97.24.
Insider Activity at Alphabet
In other Alphabet news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the transaction, the chief accounting officer now owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The disclosure for this sale can be found here. In the last quarter, insiders acquired 732,217 shares of company stock valued at $21,135,371 and sold 326,208 shares valued at $16,803,119. 11.44% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Rosenblatt Securities decreased their target price on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. KeyCorp decreased their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Piper Sandler boosted their price target on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, MKM Partners boosted their price target on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $130.06.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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