Manchester Capital Management LLC Sells 379 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Manchester Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,736 shares of the information services provider’s stock after selling 379 shares during the period. Alphabet makes up 0.6% of Manchester Capital Management LLC’s portfolio, making the stock its 19th largest holding. Manchester Capital Management LLC’s holdings in Alphabet were worth $4,010,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Nordea Investment Management AB boosted its holdings in shares of Alphabet by 115.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,164,092 shares of the information services provider’s stock valued at $1,620,126,000 after acquiring an additional 623,604 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Alphabet by 2.2% in the 2nd quarter. BlackRock Inc. now owns 20,565,856 shares of the information services provider’s stock valued at $29,163,413,000 after acquiring an additional 445,690 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Alphabet by 14.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,509,469 shares of the information services provider’s stock valued at $4,976,599,000 after acquiring an additional 439,638 shares during the last quarter. Softbank Group Corp purchased a new stake in Alphabet during the second quarter worth $475,176,000. Finally, APG Asset Management N.V. boosted its holdings in Alphabet by 31.1% during the second quarter. APG Asset Management N.V. now owns 516,207 shares of the information services provider’s stock worth $651,745,000 after buying an additional 122,396 shares in the last quarter. Institutional investors own 33.78% of the company’s stock.

Shares of GOOGL opened at $1,510.80 on Thursday. Alphabet Inc. has a 1-year low of $1,008.87 and a 1-year high of $1,726.10. The stock has a market cap of $1,027.59 billion, a PE ratio of 33.23, a P/E/G ratio of 2.09 and a beta of 1.10. The firm has a 50-day simple moving average of $1,510.84 and a two-hundred day simple moving average of $1,460.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.40.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The business had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 44.93 earnings per share for the current fiscal year.

A number of analysts recently issued reports on GOOGL shares. Monness Crespi & Hardt increased their price target on shares of Alphabet from $1,420.00 to $1,700.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wedbush increased their price target on shares of Alphabet from $1,550.00 to $1,700.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. MKM Partners increased their price target on shares of Alphabet from $1,500.00 to $1,700.00 in a report on Monday, July 27th. Pivotal Research increased their price objective on shares of Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, 140166 increased their price objective on shares of Alphabet from $1,550.00 to $1,850.00 and gave the company a “positive” rating in a report on Friday, July 31st. Three analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $1,685.59.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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