Manning & Napier Group LLC Has $92.87 Million Position in Alphabet Inc (GOOG)

Manning & Napier Group LLC increased its holdings in Alphabet Inc (NASDAQ:GOOG) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,813 shares of the information services provider’s stock after buying an additional 5,938 shares during the period. Manning & Napier Group LLC’s holdings in Alphabet were worth $92,867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Braun Bostich & Associates Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $107,000. JJJ Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter worth approximately $134,000. ELM Advisors LLC purchased a new stake in Alphabet in the 3rd quarter worth approximately $138,000. Blackhawk Capital Partners LLC. lifted its stake in Alphabet by 148.6% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 174 shares of the information services provider’s stock worth $194,000 after purchasing an additional 104 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH purchased a new stake in Alphabet in the 2nd quarter worth approximately $201,000. 40.44% of the stock is owned by institutional investors.

GOOG stock opened at $1,106.43 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. Alphabet Inc has a 52 week low of $980.64 and a 52 week high of $1,273.89. The firm has a market cap of $761.59 billion, a P/E ratio of 24.63 and a beta of 1.15.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $10.41 by $2.65. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The company had revenue of $27.16 billion for the quarter.

In related news, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $1,200.04, for a total transaction of $12,000,400.00. Following the transaction, the chief executive officer now owns 857 shares of the company’s stock, valued at approximately $1,028,434.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 80 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $1,193.80, for a total transaction of $95,504.00. Following the transaction, the chief accounting officer now directly owns 388 shares in the company, valued at approximately $463,194.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,437 shares of company stock worth $99,914,001. 13.11% of the stock is owned by insiders.

GOOG has been the topic of several research reports. BidaskClub cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Raymond James restated an “outperform” rating and set a $1,300.00 price objective (down previously from $1,405.00) on shares of Alphabet in a research report on Friday, October 26th. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research report on Tuesday, August 21st. Macquarie restated a “buy” rating on shares of Alphabet in a research report on Wednesday, August 15th. Finally, Barclays restated a “buy” rating on shares of Alphabet in a research report on Friday, September 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,301.81.

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Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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