Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 291,185 shares of the information services provider's stock after purchasing an additional 4,041 shares during the period. Alphabet comprises approximately 9.2% of Manitou Investment Management Ltd.'s investment portfolio, making the stock its 3rd largest position. Manitou Investment Management Ltd.'s holdings in Alphabet were worth $48,293,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC bought a new position in Alphabet during the 2nd quarter worth approximately $41,000. Quarry LP bought a new position in Alphabet during the 2nd quarter worth approximately $53,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,495 shares of company stock worth $34,586,641. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded down $3.30 during midday trading on Thursday, hitting $175.58. The stock had a trading volume of 30,994,235 shares, compared to its average volume of 27,120,920. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company has a market capitalization of $2.15 trillion, a PE ratio of 23.27, a P/E/G ratio of 1.29 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $164.82 and a 200-day simple moving average of $170.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the business posted $1.55 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet's payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GOOGL shares. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a "neutral" rating and a $170.00 price target for the company. Rosenblatt Securities reiterated a "neutral" rating and issued a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Roth Mkm increased their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an "overweight" rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $205.90.

About Alphabet

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.