Klingenstein Fields & Co. LP Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Klingenstein Fields & Co. LP boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,888.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,913 shares of the information services provider’s stock after acquiring an additional 225,949 shares during the period. Klingenstein Fields & Co. LP’s holdings in Alphabet were worth $22,875,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. DC Investments Management LLC acquired a new position in Alphabet in the 1st quarter valued at about $115,000. Guardian Wealth Management Inc. acquired a new position in Alphabet in the 1st quarter valued at about $184,000. Turim 21 Investimentos Ltda. boosted its holdings in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the last quarter. OneAscent Financial Services LLC acquired a new position in Alphabet in the 2nd quarter valued at about $203,000. Finally, Aspireon Wealth Advisors acquired a new position in Alphabet in the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director Ann Mather sold 280 shares of Alphabet stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the sale, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ann Mather sold 280 shares of Alphabet stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the sale, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the sale, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The disclosure for this sale can be found here. In the last three months, insiders acquired 661,702 shares of company stock worth $23,399,217 and sold 190,744 shares worth $8,564,640. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Raymond James decreased their target price on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Cowen decreased their price objective on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Credit Suisse Group set a $128.00 price objective on shares of Alphabet in a report on Wednesday, October 26th. Sanford C. Bernstein set a $120.00 price objective on shares of Alphabet in a report on Thursday, January 12th. Finally, Cowen decreased their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.56.

Alphabet Stock Performance

NASDAQ:GOOG opened at $99.28 on Monday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $93.52 and a two-hundred day moving average price of $102.16. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The company has a market capitalization of $1.28 trillion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $69.09 billion for the quarter, compared to analysts’ expectations of $70.67 billion. During the same quarter last year, the business posted $1.40 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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