First Manhattan Co. Has $104.33 Million Holdings in Alphabet Inc (GOOG)

First Manhattan Co. reduced its stake in Alphabet Inc (NASDAQ:GOOG) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,774 shares of the information services provider’s stock after selling 2,401 shares during the quarter. Alphabet makes up approximately 0.6% of First Manhattan Co.’s investment portfolio, making the stock its 25th largest position. First Manhattan Co.’s holdings in Alphabet were worth $104,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of GOOG. Capital Investment Advisory Services LLC grew its holdings in shares of Alphabet by 0.4% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after purchasing an additional 1 shares during the period. Capital Advantage Inc. grew its holdings in shares of Alphabet by 0.4% during the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after purchasing an additional 1 shares during the period. Foster & Motley Inc. grew its holdings in shares of Alphabet by 0.8% during the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock worth $241,000 after purchasing an additional 2 shares during the period. Saratoga Research & Investment Management grew its holdings in shares of Alphabet by 1.2% during the 2nd quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock worth $234,000 after purchasing an additional 3 shares during the period. Finally, Edge Wealth Management LLC grew its holdings in shares of Alphabet by 0.9% during the 2nd quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock worth $309,000 after purchasing an additional 3 shares during the period. Institutional investors own 34.63% of the company’s stock.

GOOG has been the subject of a number of research analyst reports. Deutsche Bank reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, October 25th. UBS Group reissued a “buy” rating and set a $1,080.00 target price on shares of Alphabet in a research note on Monday, September 11th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,067.64 target price on the stock. in a research note on Monday, November 20th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirty-eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $1,046.04.

Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,046.40 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The stock has a market capitalization of $729,730.00, a PE ratio of 34.86 and a beta of 0.94. Alphabet Inc has a 12-month low of $770.41 and a 12-month high of $1,078.49.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. During the same quarter last year, the company earned $9.06 EPS. Alphabet’s revenue for the quarter was up 23.7% compared to the same quarter last year.

In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $1,072.64, for a total value of $4,290,560.00. Following the transaction, the chief executive officer now owns 803 shares in the company, valued at approximately $861,329.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP James Grier Campbell sold 183 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $959.26, for a total value of $175,544.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,900 shares of company stock worth $37,430,220. Company insiders own 13.92% of the company’s stock.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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