Manhattan West Asset Management LLC Has $329,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

Manhattan West Asset Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,730 shares of the information services provider’s stock after selling 245 shares during the quarter. Manhattan West Asset Management LLC’s holdings in Alphabet were worth $329,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. LSV Asset Management bought a new position in Alphabet during the 4th quarter worth $27,000. WealthTrak Capital Management LLC acquired a new position in Alphabet in the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet during the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet during the 4th quarter worth $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This represents a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock worth $21,089,470 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $159.40 on Friday. The stock has a market capitalization of $1.94 trillion, a PE ratio of 19.80, a PEG ratio of 1.34 and a beta of 1.04. The business’s 50 day simple moving average is $170.50 and its 200 day simple moving average is $177.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GOOG shares. Scotiabank upped their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, UBS Group lowered their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $208.71.

About Alphabet

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.