Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Trimmed by L.M. Kohn & Company

L.M. Kohn & Company reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the third quarter, Holdings Channel.com reports. The firm owned 44,807 shares of the information services provider’s stock after selling 1,806 shares during the quarter. Alphabet makes up 1.9% of L.M. Kohn & Company’s holdings, making the stock its 9th biggest holding. L.M. Kohn & Company’s holdings in Alphabet were worth $7,431,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. MorganRosel Wealth Management LLC grew its holdings in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC boosted its position in shares of Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. First PREMIER Bank increased its position in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the last quarter. Finally, Cutler Investment Counsel LLC raised its stake in Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after purchasing an additional 61 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL stock opened at $195.40 on Thursday. The company has a market cap of $2.39 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $170.07 and a two-hundred day moving average price of $170.28. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $195.61.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, research analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GOOGL shares. Royal Bank of Canada boosted their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Loop Capital boosted their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday. Finally, The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $206.03.

Insider Activity

In other 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 transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,123 shares of company stock valued at $34,121,676. Company insiders own 11.55% of the company’s stock.

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.