Klingenstein Fields & Co. LP Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Klingenstein Fields & Co. LP decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,258 shares of the information services provider’s stock after selling 774 shares during the quarter. Alphabet comprises approximately 1.4% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 24th biggest position. Klingenstein Fields & Co. LP’s holdings in Alphabet were worth $34,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Roman Butler Fullerton & Co. raised its position in shares of Alphabet by 3.6% in the 3rd quarter. Roman Butler Fullerton & Co. now owns 31,131 shares of the information services provider’s stock worth $5,196,000 after purchasing an additional 1,070 shares during the last quarter. Kanawha Capital Management LLC grew its stake in shares of Alphabet by 2.8% during the 3rd quarter. Kanawha Capital Management LLC now owns 8,096 shares of the information services provider’s stock valued at $1,354,000 after purchasing an additional 223 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Alphabet by 2.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,982,032 shares of the information services provider’s stock valued at $331,376,000 after buying an additional 42,613 shares in the last quarter. Opes Wealth Management LLC lifted its position in shares of Alphabet by 27.2% during the 3rd quarter. Opes Wealth Management LLC now owns 15,898 shares of the information services provider’s stock valued at $2,658,000 after buying an additional 3,404 shares in the last quarter. Finally, Harbour Investment Management LLC lifted its position in shares of Alphabet by 0.3% during the 3rd quarter. Harbour Investment Management LLC now owns 18,705 shares of the information services provider’s stock valued at $3,127,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $170.68 on Tuesday. The stock’s fifty day moving average is $163.87 and its two-hundred day moving average is $170.72. The company has a market capitalization of $2.10 trillion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 EPS. As a group, analysts expect that Alphabet Inc. will post 7.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GOOG shares. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Canaccord Genuity Group boosted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays boosted their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,052 shares of company stock valued at $38,086,723. 12.99% of the stock is currently owned by corporate 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.