Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,888.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 237,913 shares of the information services provider’s stock after acquiring an additional 225,949 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Alphabet were worth $22,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Totem Point Management LLC lifted its position in Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F lifted its position in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. acquired a new position in shares of Alphabet during the first quarter worth $2,564,000. Hall Capital Management Co. Inc. lifted its position in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after purchasing an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. lifted its position in shares of Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares in the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent research reports. Sanford C. Bernstein set a $120.00 target price on shares of Alphabet in a research report on Thursday, January 12th. Raymond James reduced their target price on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Credit Suisse Group set a $128.00 target price on shares of Alphabet in a research report on Wednesday, October 26th. Cowen reduced their target price on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, October 21st. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.56.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ann Mather sold 280 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the transaction, the director now owns 11,200 shares in the company, valued at $1,156,176. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last quarter, insiders bought 661,702 shares of company stock worth $23,399,217 and sold 190,744 shares worth $8,564,640. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 5.7 %

GOOG stock opened at $99.28 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $152.10. The firm has a fifty day moving average price of $93.52 and a two-hundred day moving average price of $102.16. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $70.67 billion. During the same quarter in the previous year, the firm earned $1.40 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 4.68 EPS for the current year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.