Manchester Global Management UK Ltd Has $13.25 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Manchester Global Management UK Ltd cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,968 shares of the information services provider's stock after selling 7,472 shares during the period. Alphabet accounts for approximately 1.7% of Manchester Global Management UK Ltd's portfolio, making the stock its 19th biggest holding. Manchester Global Management UK Ltd's holdings in Alphabet were worth $13,245,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Principal Financial Group Inc. grew its holdings in shares of Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock worth $1,871,384,000 after purchasing an additional 337,031 shares in the last quarter. Passumpsic Savings Bank boosted its stake in Alphabet by 38.0% during the third quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider's stock worth $779,000 after buying an additional 1,294 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in Alphabet by 0.5% during the third quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider's stock worth $6,199,000 after buying an additional 202 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in Alphabet by 6.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider's stock valued at $382,000 after buying an additional 130 shares during the period. Finally, Te Ahumairangi Investment Management Ltd raised its stake in shares of Alphabet by 19.2% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider's stock valued at $22,703,000 after buying an additional 22,169 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. JMP Securities reissued a "market perform" rating on shares of Alphabet in a research note on Thursday, April 10th. Wedbush set a $190.00 price objective on Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. KeyCorp boosted their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Citizens Jmp lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $199.03.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares in the company, valued at approximately $1,232,544.70. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,163 shares of company stock valued at $25,361,647 over the last 90 days. 11.55% of the stock is owned by company insiders.

Alphabet Trading Up 1.7 %

Shares of GOOGL stock traded up $2.68 on Friday, reaching $161.96. The company had a trading volume of 55,957,898 shares, compared to its average volume of 28,549,698. The stock has a market cap of $1.97 trillion, a PE ratio of 20.12, a PEG ratio of 1.34 and a beta of 1.03. The company has a 50-day moving average of $162.61 and a 200-day moving average of $175.44. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the firm posted $1.89 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. Alphabet's dividend 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.