Manitou Investment Management Ltd. Has $118,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

Manitou Investment Management Ltd. cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 22.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 620 shares of the information services provider’s stock after selling 178 shares during the quarter. Alphabet accounts for about 0.0% of Manitou Investment Management Ltd.’s portfolio, making the stock its 23rd biggest position. Manitou Investment Management Ltd.’s holdings in Alphabet were worth $118,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the third quarter worth $33,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC increased its holdings in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after buying an additional 84 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 1.2 %

GOOG stock opened at $201.90 on Monday. The company has a market cap of $2.47 trillion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The business has a 50-day simple moving average of $187.95 and a 200 day simple moving average of $175.21. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOG shares. Citigroup lifted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $205.13.

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.