Klingenstein Fields & Co. LP reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,716 shares of the information services provider's stock after selling 2,972 shares during the period. Alphabet makes up 1.3% of Klingenstein Fields & Co. LP's investment portfolio, making the stock its 26th largest holding. Klingenstein Fields & Co. LP's holdings in Alphabet were worth $31,358,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of GOOG. ARQ Wealth Advisors LLC lifted its stake in shares of Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares in the last quarter. Independence Bank of Kentucky increased its position in shares of Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after acquiring an additional 1,376 shares in the last quarter. Harvest Investment Services LLC raised its holdings in shares of Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after acquiring an additional 138 shares during the last quarter. North Forty Two & Co. bought a new position in Alphabet in the 4th quarter valued at about $281,000. Finally, Fermata Advisors LLC boosted its stake in Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after purchasing an additional 259 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.
Insider Activity at Alphabet
In related news, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 183,143 shares of company stock worth $30,529,028. 12.99% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
GOOG has been the subject of several analyst reports. Citigroup reissued a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $206.38.
Read Our Latest Stock Analysis on GOOG
Alphabet Stock Performance
Shares of GOOG opened at $179.76 on Thursday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock's fifty day moving average price is $169.27 and its two-hundred day moving average price is $175.84. The firm has a market cap of $2.18 trillion, a PE ratio of 20.04, a PEG ratio of 1.25 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
About Alphabet
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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