Klingenstein Fields & Co. LP trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,251 shares of the information services provider’s stock after selling 3,329 shares during the period. Klingenstein Fields & Co. LP’s holdings in Alphabet were worth $23,842,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Corrado Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $27,000. Milestone Wealth LLC increased its stake in Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after purchasing an additional 361 shares during the period. Lowe Wealth Advisors LLC lifted its position in shares of Alphabet by 187.5% during the fourth quarter. Lowe Wealth Advisors LLC now owns 460 shares of the information services provider’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. JDM Financial Group LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $46,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Alphabet in the fourth quarter worth about $48,000. 27.17% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Down 1.0 %
NASDAQ:GOOG opened at $122.78 on Thursday. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $129.55. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $122.55 and a 200 day moving average of $107.55.
Wall Street Analyst Weigh In
GOOG has been the subject of a number of research analyst reports. Oppenheimer decreased their price objective on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. UBS Group raised their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Robert W. Baird upped their target price on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Finally, Raymond James raised their price target on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $130.70.
Insider Buying and Selling at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now owns 5,740 shares in the company, valued at approximately $721,231. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 864,122 shares of company stock worth $29,751,580. 12.99% of the stock is owned by 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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