Klingman & Associates LLC Purchases 585 Shares of Alphabet Inc. (NASDAQ:GOOG)

Klingman & Associates LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 26,741 shares of the information services provider’s stock after purchasing an additional 585 shares during the quarter. Klingman & Associates LLC’s holdings in Alphabet were worth $5,093,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter worth $25,000. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter worth about $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. grew its position in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. Finally, Maryland Capital Advisors Inc. increased its stake in Alphabet by 33.0% during the 4th quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock worth $51,000 after purchasing an additional 66 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,299 shares of company stock valued at $25,055,751. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $181.58 on Friday. The company has a fifty day moving average price of $194.02 and a two-hundred day moving average price of $177.22. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The stock has a market cap of $2.21 trillion, a P/E ratio of 22.56, a P/E/G ratio of 1.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOOG shares. UBS Group upped their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Scotiabank increased their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Company Profile

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.