Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Reduced by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,816 shares of the information services provider's stock after selling 2,766 shares during the quarter. Alphabet makes up approximately 3.0% of Klingenstein Fields & Co. LP's holdings, making the stock its 8th biggest position. Klingenstein Fields & Co. LP's holdings in Alphabet were worth $70,642,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arbor Capital Management Inc. ADV lifted its position in shares of Alphabet by 3.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 11,452 shares of the information services provider's stock worth $1,787,000 after purchasing an additional 415 shares during the last quarter. Oregon Pacific Wealth Management LLC raised its holdings in Alphabet by 7.5% in the 1st quarter. Oregon Pacific Wealth Management LLC now owns 5,093 shares of the information services provider's stock valued at $788,000 after acquiring an additional 354 shares in the last quarter. Harbour Trust & Investment Management Co raised its holdings in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares in the last quarter. Alterna Wealth Management Inc. raised its holdings in Alphabet by 15.3% in the 1st quarter. Alterna Wealth Management Inc. now owns 7,655 shares of the information services provider's stock valued at $1,184,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Yukon Wealth Management Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $1,676,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Down 1.5%

NASDAQ:GOOGL opened at $176.79 on Tuesday. The stock's fifty day moving average price is $169.03 and its two-hundred day moving average price is $173.67. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $2.15 trillion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's dividend payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GOOGL shares. Piper Sandler upped their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. KeyCorp upped their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Susquehanna lowered their price objective on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Morgan Stanley lowered their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Citigroup reiterated a "buy" rating and issued a $203.00 price objective (up from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $199.95.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 in the last 90 days. 11.55% of the stock is owned by company insiders.

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.

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