Alphabet Inc. $GOOG Shares Purchased by Manchester Financial Inc.

Key Points

• Manchester Financial Inc. increased its stake in Alphabet Inc. by 59.9% during the second quarter, holding over 6,332 shares valued at approximately $1.12 million.
• Alphabet reported a quarterly earnings per share (EPS) of $2.31, beating the expected $2.12, with a year-over-year revenue growth of 13.8% to $96.43 billion.
• Insider selling occurred, with CAO Amie O'toole and CEO Sundar Pichai offloading shares, collectively totaling over $8.7 million in value.

Manchester Financial Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 59.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,332 shares of the information services provider's stock after acquiring an additional 2,372 shares during the period. Manchester Financial Inc.'s holdings in Alphabet were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. IFS Advisors LLC boosted its stake in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley boosted its stake in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its stake in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after acquiring an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the first quarter worth approximately $26,000. Finally, Fairman Group LLC boosted its stake in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock worth $31,000 after buying an additional 97 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $257.02 on Tuesday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.88. The business's fifty day simple moving average is $233.29 and its 200-day simple moving average is $194.01. The firm has a market cap of $3.11 trillion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the company posted $1.89 EPS. The company's quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOG. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Hsbc Global Res raised Alphabet to a "strong-buy" rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Pivotal Research boosted their price objective on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, Roth Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $246.26.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last quarter. Insiders own 12.99% 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.

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