Manitou Investment Management Ltd. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 290,974 shares of the information services provider’s stock after selling 211 shares during the period. Alphabet comprises approximately 10.9% of Manitou Investment Management Ltd.’s portfolio, making the stock its 2nd biggest holding. Manitou Investment Management Ltd.’s holdings in Alphabet were worth $55,081,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the business. LMR Partners LLP purchased a new position in Alphabet during the 3rd quarter valued at approximately $32,000. Denver PWM LLC grew its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares in the last quarter. Quarry LP purchased a new position in Alphabet during the 2nd quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet during the 3rd quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC grew its holdings in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Insider Activity
In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,887 shares of company stock worth $22,470,464. 11.55% of the stock is currently owned by company insiders.
Alphabet Trading Up 0.1 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) 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 business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the business posted $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Loop Capital raised their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.82.
Get Our Latest Report on GOOGL
Alphabet 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.
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