Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Manchester Global Management UK Ltd

Manchester Global Management UK Ltd cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,968 shares of the information services provider’s stock after selling 7,472 shares during the quarter. Alphabet accounts for approximately 1.7% of Manchester Global Management UK Ltd’s holdings, making the stock its 19th biggest position. Manchester Global Management UK Ltd’s holdings in Alphabet were worth $13,245,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Bennett Selby Investments LP raised its holdings in Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after acquiring an additional 52 shares during the last quarter. Macroview Investment Management LLC grew its position in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. increased its stake in Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after purchasing an additional 53 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after buying an additional 53 shares during the period. Finally, Addison Advisors LLC boosted its stake in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after buying an additional 53 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $205.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Piper Sandler decreased their price target on shares of Alphabet from $208.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Citigroup dropped their price objective on Alphabet from $229.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Wolfe Research lifted their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $200.74.

Alphabet Stock Performance

Shares of Alphabet stock opened at $151.47 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm’s 50-day simple moving average is $163.72 and its 200-day simple moving average is $175.61. The firm has a market cap of $1.85 trillion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.53%. Alphabet’s payout ratio is 9.94%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,163 shares of company stock valued at $25,361,647. Company insiders own 11.55% of the company’s stock.

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.