Manchester Capital Management LLC Sells 5,037 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Manchester Capital Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 53,721 shares of the information services provider’s stock after selling 5,037 shares during the period. Alphabet comprises 1.2% of Manchester Capital Management LLC’s portfolio, making the stock its 14th biggest position. Manchester Capital Management LLC’s holdings in Alphabet were worth $10,169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. International Assets Investment Management LLC raised its position in Alphabet by 43,005.6% during the 3rd 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 in the last quarter. Assenagon Asset Management S.A. raised its position in Alphabet by 116.4% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. raised its position in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Alphabet during the 3rd quarter valued at $513,024,000. Finally, Geode Capital Management LLC raised its position in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on GOOGL shares. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Wedbush boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Wolfe Research boosted their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,299 shares of company stock worth $25,055,751. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $172.73 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day simple moving average of $191.40 and a 200-day simple moving average of $176.11. The firm has a market capitalization of $2.11 trillion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is 9.94%.

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.