Alphabet Inc. $GOOGL Shares Bought by Manchester Financial Inc.

Manchester Financial Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 38.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,891 shares of the information services provider’s stock after acquiring an additional 1,089 shares during the period. Manchester Financial Inc.’s holdings in Alphabet were worth $686,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $39,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.7%

GOOGL opened at $267.47 on Wednesday. The firm’s fifty day moving average is $239.35 and its two-hundred day moving average is $197.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.23 trillion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $270.73.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GOOGL. Roth Capital lifted their price objective on shares of Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Piper Sandler upped their target price on shares of Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. JMP Securities reissued a “market outperform” rating and issued a $290.00 target price on shares of Alphabet in a research note on Wednesday, October 22nd. Wedbush upped their target price on shares of Alphabet from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Finally, Susquehanna upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $264.34.

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.