Klingenstein Fields & Co. LLC Sells 206 Shares of Alphabet Inc (GOOG)

Klingenstein Fields & Co. LLC lessened its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,558 shares of the information services provider’s stock after selling 206 shares during the quarter. Alphabet accounts for approximately 1.3% of Klingenstein Fields & Co. LLC’s portfolio, making the stock its 20th largest position. Klingenstein Fields & Co. LLC’s holdings in Alphabet were worth $34,068,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GOOG. Janus Henderson Group PLC grew its stake in shares of Alphabet by 759.0% in the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after acquiring an additional 2,831,099 shares in the last quarter. Koch Industries Inc. grew its stake in shares of Alphabet by 214,636.6% in the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after acquiring an additional 1,161,184 shares in the last quarter. BlackRock Inc. grew its stake in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after acquiring an additional 826,480 shares in the last quarter. Capital World Investors grew its stake in shares of Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after acquiring an additional 776,853 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Alphabet by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after acquiring an additional 589,654 shares in the last quarter. Institutional investors and hedge funds own 34.85% of the company’s stock.

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In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $1,018.01, for a total value of $4,072,040.00. Following the sale, the chief executive officer now directly owns 967 shares of the company’s stock, valued at $984,415.67. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director L John Doerr sold 11,575 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $1,079.99, for a total transaction of $12,500,884.25. Following the completion of the sale, the director now directly owns 3,485 shares in the company, valued at $3,763,765.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,709 shares of company stock worth $53,035,301. Insiders own 13.92% of the company’s stock.

Several analysts have recently issued reports on GOOG shares. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday, January 26th. Jefferies Group reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,065.12 target price for the company. in a research note on Thursday, December 7th. BidaskClub lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 5th. Finally, TheStreet lowered shares of Alphabet from an “a” rating to a “c+” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,084.71.

NASDAQ GOOG opened at $1,031.79 on Friday. The stock has a market cap of $716,870.19, a price-to-earnings ratio of 32.19 and a beta of 1.04. Alphabet Inc has a 52 week low of $817.02 and a 52 week high of $1,186.89. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). The business had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. Alphabet’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the company earned $9.36 earnings per share.

Alphabet announced that its Board of Directors has initiated a share repurchase program on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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