Alphabet Inc (NASDAQ:GOOGL) is Manitou Investment Management Ltd.’s 9th Largest Position

Manitou Investment Management Ltd. cut its stake in Alphabet Inc (NASDAQ:GOOGL) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,420 shares of the information services provider’s stock after selling 90 shares during the period. Alphabet comprises about 5.4% of Manitou Investment Management Ltd.’s holdings, making the stock its 9th largest holding. Manitou Investment Management Ltd.’s holdings in Alphabet were worth $22,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GOOGL. Lodestar Investment Counsel LLC IL increased its position in shares of Alphabet by 0.8% during the second quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock worth $4,923,000 after purchasing an additional 34 shares in the last quarter. Essex Financial Services Inc. increased its position in shares of Alphabet by 4.1% during the second quarter. Essex Financial Services Inc. now owns 4,106 shares of the information services provider’s stock worth $4,446,000 after purchasing an additional 160 shares in the last quarter. Pacific Wealth Strategies Group Inc. increased its position in shares of Alphabet by 2.7% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 3,283 shares of the information services provider’s stock worth $4,009,000 after purchasing an additional 87 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Alphabet by 1.3% during the third quarter. LS Investment Advisors LLC now owns 11,835 shares of the information services provider’s stock worth $14,452,000 after purchasing an additional 151 shares in the last quarter. Finally, Carlson Capital L P increased its position in shares of Alphabet by 19.2% during the second quarter. Carlson Capital L P now owns 24,425 shares of the information services provider’s stock worth $26,447,000 after purchasing an additional 3,935 shares in the last quarter. Hedge funds and other institutional investors own 33.56% of the company’s stock.

GOOGL traded up $2.06 during trading on Friday, reaching $1,309.00. The company’s stock had a trading volume of 1,519,600 shares, compared to its average volume of 1,555,468. The company’s fifty day moving average price is $1,241.32 and its 200-day moving average price is $1,181.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.75 and a current ratio of 3.78. The company has a market capitalization of $895.48 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,322.65.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $12.42 by ($2.30). The business had revenue of $33.01 billion during the quarter, compared to analyst estimates of $32.84 billion. Alphabet had a net margin of 21.04% and a return on equity of 18.34%. During the same quarter last year, the firm posted $13.06 earnings per share. Equities analysts predict that Alphabet Inc will post 49.05 earnings per share for the current year.

A number of analysts have recently commented on GOOGL shares. Stifel Nicolaus lifted their target price on Alphabet from $1,299.00 to $1,325.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Needham & Company LLC set a $1,350.00 price target on Alphabet and gave the company a “buy” rating in a research report on Friday, July 26th. Guggenheim dropped their price target on Alphabet from $1,525.00 to $1,460.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Susquehanna Bancshares boosted their price target on Alphabet to $1,550.00 in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,406.25.

Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Recommended Story: What is a balanced fund?

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply