Manchester Capital Management LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Manchester Capital Management LLC increased its holdings in Alphabet Inc. by 3.7%, totaling 55,703 shares valued at $8.61 million, making it the fund's 15th largest position.
• Recent analyst reports have raised price targets for Alphabet, with Barclays now anticipating a target of $235.00 and 29 analysts rating the stock as a "buy".
• Alphabet reported a favorable earnings beat in its last quarter, with an EPS of $2.31 surpassing estimates and revenue of $96.43 billion, along with a quarterly dividend of $0.21 to be paid in September.

Manchester Capital Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,703 shares of the information services provider's stock after acquiring an additional 1,982 shares during the period. Alphabet comprises 1.1% of Manchester Capital Management LLC's portfolio, making the stock its 15th largest position. Manchester Capital Management LLC's holdings in Alphabet were worth $8,614,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Nia Impact Advisors LLC increased its stake in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares in the last quarter. Hanlon Investment Management Inc. increased its position in shares of Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after acquiring an additional 60 shares in the last quarter. Enzi Wealth increased its position in shares of Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after acquiring an additional 62 shares in the last quarter. Whipplewood Advisors LLC increased its position in shares of Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after acquiring an additional 67 shares in the last quarter. Finally, Aspire Capital Advisors LLC increased its position in shares of Alphabet by 1.0% during the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after acquiring an additional 67 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,219 shares of company stock worth $49,674,273. Corporate insiders own 11.55% of the company's stock.

Alphabet Trading Down 0.5%

Alphabet stock traded down $1.03 during midday trading on Wednesday, hitting $202.31. 9,922,316 shares of the stock were exchanged, compared to its average volume of 36,638,750. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.36 and a beta of 1.01. The stock's 50-day simple moving average is $182.27 and its 200 day simple moving average is $173.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Needham & Company LLC lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Truist Financial reiterated a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Rosenblatt Securities upped their price target on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Susquehanna upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.53.

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.