Manning & Napier Advisors LLC Lowers Stock Holdings in Alphabet Inc. $GOOGL

Manning & Napier Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 628,449 shares of the information services provider’s stock after selling 48,497 shares during the period. Alphabet makes up about 2.9% of Manning & Napier Advisors LLC’s portfolio, making the stock its 6th biggest holding. Manning & Napier Advisors LLC’s holdings in Alphabet were worth $224,589,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC increased its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its stake in shares of Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after buying an additional 581 shares during the period. Sequoia Financial Advisors LLC increased its stake in Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after acquiring an additional 48,805 shares during the period. Finally, United Bank raised its holdings in Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after acquiring an additional 3,120 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud expands enterprise AI push: Alphabet and Accenture are launching a joint unit with 1,000 forward-deployed engineers to help businesses implement Google’s AI tools. The partnership could accelerate Cloud adoption, improve monetization and help Alphabet compete more effectively with Microsoft and Amazon. Google Cloud races to catch up in the AI deployment wars with Accenture deal
• Positive Sentiment: Potential power support for AI infrastructure: The U.S. government approved a $1.9 billion loan to NextEra Energy to refurbish an Iowa nuclear plant that Google plans to use for power. Reliable, low-carbon electricity could help support Alphabet’s growing data-center demand, although the benefits are longer term. Google’s revived nuclear power plant gets $1.9B loan from US government
• Positive Sentiment: Google and Cathay Pacific expanded trials of AI technology designed to reduce aircraft contrail warming, adding a potential sustainability and commercial-use case for Google’s AI capabilities. Cathay Pacific, Google expand AI trials to cut climate-warming aircraft contrails

Alphabet Stock Performance

NASDAQ:GOOGL opened at $338.36 on Wednesday. The stock has a market cap of $4.14 trillion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average is $348.34 and its 200-day moving average is $343.37. Alphabet Inc. has a 1-year low of $233.23 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.07 billion. Equities research analysts anticipate that Alphabet Inc. will post 20.5 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 4.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen lowered Alphabet from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Wedbush restated an “outperform” rating and issued a $445.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 27th. Pivotal Research restated a “buy” rating and set a $475.00 price objective (up from $470.00) on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Loop Capital lifted their price target on Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Buy” and an average price target of $420.19.

Insider Buying and Selling at Alphabet

In related news, Director John Hennessy sold 1,050 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares of the company’s stock, valued at $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares of the company’s stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 451,925 shares of company stock worth $12,371,544 in the last three months. 11.61% of the stock is currently owned by company insiders.

Alphabet Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet’s largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.