Klingenstein Fields & Co. LP Has $31.38 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Klingenstein Fields & Co. LP trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 222,668 shares of the information services provider’s stock after selling 4,146 shares during the period. Alphabet comprises 1.4% of Klingenstein Fields & Co. LP’s holdings, making the stock its 23rd largest position. Klingenstein Fields & Co. LP’s holdings in Alphabet were worth $31,381,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $26,000. Tandem Wealth Advisors LLC acquired a new stake in Alphabet in the 3rd quarter valued at about $25,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet in the 4th quarter valued at about $28,000. Buck Wealth Strategies LLC acquired a new stake in Alphabet in the 3rd quarter valued at about $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in Alphabet in the 3rd quarter valued at about $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $159.86.

Alphabet Trading Up 1.2 %

Shares of GOOG stock opened at $159.92 on Wednesday. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The firm has a 50 day moving average price of $147.92 and a two-hundred day moving average price of $142.27. The company has a market capitalization of $1.99 trillion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period last year, the firm earned $1.05 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is currently owned by company insiders.

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.