Cohen Klingenstein LLC Sells 29,040 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cohen Klingenstein LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 242,220 shares of the information services provider’s stock after selling 29,040 shares during the quarter. Alphabet comprises 1.6% of Cohen Klingenstein LLC’s portfolio, making the stock its 15th largest position. Cohen Klingenstein LLC’s holdings in Alphabet were worth $46,128,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Weiss Asset Management LP bought a new position in Alphabet during the 3rd quarter valued at approximately $25,000. Abich Financial Wealth Management LLC grew its stake in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the third quarter valued at $33,000. HWG Holdings LP purchased a new position in shares of Alphabet in the 2nd quarter worth about $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% during 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 last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GOOG shares. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Finally, UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Up 1.6 %

GOOG stock opened at $197.55 on Monday. The business’s 50-day moving average price is $185.92 and its 200-day moving average price is $174.85. The stock has a market cap of $2.42 trillion, a P/E ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the company posted $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s payout ratio is 10.61%.

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.