Alphabet Inc. $GOOGL Shares Acquired by Klingman & Associates LLC

Klingman & Associates LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 19.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,078 shares of the information services provider’s stock after purchasing an additional 3,815 shares during the period. Klingman & Associates LLC’s holdings in Alphabet were worth $4,067,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Brighton Jones LLC raised its holdings in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Alphabet by 3.5% during the 4th 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 during the period. Jag Capital Management LLC raised its holdings in shares of Alphabet by 24.8% during the 1st quarter. Jag Capital Management LLC now owns 121,707 shares of the information services provider’s stock valued at $18,821,000 after buying an additional 24,152 shares during the period. Mcdaniel Terry & Co. raised its holdings in shares of Alphabet by 3.3% during the 1st quarter. Mcdaniel Terry & Co. now owns 15,007 shares of the information services provider’s stock valued at $2,321,000 after buying an additional 479 shares during the period. Finally, Vista Investment Partners II LLC raised its holdings in shares of Alphabet by 5.6% during the 1st quarter. Vista Investment Partners II LLC now owns 5,331 shares of the information services provider’s stock valued at $824,000 after buying an additional 284 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $281.31 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The business has a 50 day simple moving average of $244.00 and a 200-day simple moving average of $199.68.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on GOOGL shares. Mizuho set a $325.00 target price on Alphabet in a report on Thursday. Susquehanna raised their target price on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a report on Thursday. Canaccord Genuity Group lifted their price objective on Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday. CIBC lifted their price objective on Alphabet to $315.00 in a report on Monday, October 20th. Finally, Stifel Nicolaus set a $333.00 price objective on Alphabet in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.98.

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.