Klingman & Associates LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Klingman & Associates LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,704 shares of the information services provider’s stock after selling 644 shares during the period. Klingman & Associates LLC’s holdings in Alphabet were worth $2,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GOOGL. Live Oak Investment Partners purchased a new position in Alphabet during the fourth quarter valued at $26,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet during the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet during the third quarter valued at about $38,000. Meritage Group LP increased its holdings in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC lifted its position in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GOOGL shares. Barclays cut their price target on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Canaccord Genuity Group boosted their price target on shares of Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company decreased their price target on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Mizuho lifted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Redburn Atlantic upped their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $158.41.

Alphabet Stock Down 1.2 %

Shares of Alphabet stock opened at $154.09 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.43 and a beta of 1.05. The firm’s 50-day moving average is $146.26 and its two-hundred day moving average is $140.54. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period last year, the firm earned $1.05 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by corporate 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.