Alphabet Inc. $GOOGL Shares Sold by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 434,664 shares of the information services provider’s stock after selling 11,137 shares during the quarter. Alphabet makes up about 5.1% of Klingenstein Fields & Co. LP’s holdings, making the stock its 2nd largest position. Klingenstein Fields & Co. LP’s holdings in Alphabet were worth $136,050,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Symmetry Partners LLC grew its holdings in shares of Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock worth $2,476,000 after purchasing an additional 30 shares during the period. Members Trust Co grew its holdings in shares of Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after purchasing an additional 31 shares during the period. Altfest L J & Co. Inc. grew its holdings in shares of Alphabet by 0.4% during the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after purchasing an additional 31 shares during the period. Insight 2811 Inc. grew its holdings in shares of Alphabet by 1.0% during the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after purchasing an additional 32 shares during the period. Finally, LJI Wealth Management LLC boosted its holdings in Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock worth $2,274,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $359.68 on Friday. The business’s 50 day moving average is $360.45 and its two-hundred day moving average is $330.26. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61. The firm has a market cap of $4.36 trillion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.53 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is currently 6.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Rosenblatt Securities restated a “neutral” rating and issued a $393.00 price target on shares of Alphabet in a report on Thursday, May 21st. Needham & Company LLC restated a “buy” rating and issued a $450.00 price target on shares of Alphabet in a report on Wednesday, June 3rd. Roth Mkm restated a “buy” rating on shares of Alphabet in a report on Thursday, April 30th. Robert W. Baird upped their price target on Alphabet from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, China Renaissance upped their price target on Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the transaction, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the transaction, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 193,016 shares of company stock worth $17,282,549 over the last 90 days. 11.61% of the stock is currently owned by corporate insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.