L.M. Kohn & Company Reduces Stock Holdings in Alphabet Inc. $GOOG

L.M. Kohn & Company cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,037 shares of the information services provider’s stock after selling 211 shares during the quarter. L.M. Kohn & Company’s holdings in Alphabet were worth $1,248,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley boosted its holdings in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its holdings in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares in the last quarter. Fairman Group LLC boosted its holdings in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet during the first quarter worth $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOG opened at $281.90 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.41 trillion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93. The firm’s fifty day simple moving average is $243.09 and its two-hundred day simple moving average is $199.85.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOG. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Cantor Fitzgerald set a $310.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Mizuho set a $325.00 price objective on shares of Alphabet in a report on Thursday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $324.81.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 12.99% 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.