Alphabet Inc. (NASDAQ:GOOGL) is Klingenstein Fields & Co. LP’s 8th Largest Position

Klingenstein Fields & Co. LP trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478,222 shares of the information services provider’s stock after selling 4,995 shares during the quarter. Alphabet accounts for approximately 3.0% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 8th largest holding. Klingenstein Fields & Co. LP’s holdings in Alphabet were worth $66,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meritage Group LP boosted its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Macroview Investment Management LLC lifted its stake in shares of Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares in the last quarter. Armor Investment Advisors LLC boosted its position in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $55,000. Finally, LFA Lugano Financial Advisors SA raised its holdings in shares of Alphabet by 301.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after buying an additional 392 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on GOOGL. Redburn Atlantic increased their price objective on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Mizuho raised their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group boosted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday. UBS Group raised their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.44.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold 253,209 shares of company stock worth $36,711,144 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $166.15 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $148.36 and its two-hundred day moving average is $141.62. The firm has a market capitalization of $2.07 trillion, a P/E ratio of 25.48, a PEG ratio of 1.57 and a beta of 1.05. Alphabet Inc. has a 52 week low of $103.71 and a 52 week high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period last year, the firm earned $1.17 EPS. Analysts anticipate that Alphabet Inc. will post 6.82 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Alphabet Company Profile

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.