Manning & Napier Group LLC Reduces Holdings in Alphabet Inc (NASDAQ:GOOGL)

Manning & Napier Group LLC decreased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 31.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,865 shares of the information services provider’s stock after selling 38,637 shares during the period. Alphabet comprises approximately 1.1% of Manning & Napier Group LLC’s holdings, making the stock its 25th biggest holding. Manning & Napier Group LLC’s holdings in Alphabet were worth $102,409,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Belvedere Advisors LLC bought a new stake in shares of Alphabet during the 1st quarter worth about $38,000. Litman Gregory Asset Management LLC bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $37,000. Thor Advisors LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $45,000. Lipe & Dalton bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $49,000. Finally, Johnson Financial Group Inc. raised its holdings in shares of Alphabet by 26.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after purchasing an additional 10 shares in the last quarter. 33.50% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on GOOGL. Jefferies Financial Group boosted their target price on shares of Alphabet from $1,450.00 to $1,500.00 and gave the stock a “buy” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,189.00 target price on the stock in a report on Monday, July 8th. MKM Partners reiterated a “buy” rating and issued a $1,450.00 target price on shares of Alphabet in a report on Friday, August 2nd. Needham & Company LLC set a $1,350.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, JMP Securities boosted their target price on shares of Alphabet to $1,450.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Eight analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,375.78.



Shares of Alphabet stock traded up $7.05 during trading on Thursday, hitting $1,209.45. The stock had a trading volume of 110,431 shares, compared to its average volume of 1,329,242. The stock has a 50 day simple moving average of $1,205.66 and a 200 day simple moving average of $1,174.05. Alphabet Inc has a 1 year low of $977.66 and a 1 year high of $1,296.97. The company has a market capitalization of $837.41 billion, a PE ratio of 25.46, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. As a group, equities analysts expect that Alphabet Inc will post 51.29 earnings per share for the current fiscal year.

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:GOOGL)

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