Kohmann Bosshard Financial Services LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Kohmann Bosshard Financial Services LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,447 shares of the information services provider’s stock after selling 490 shares during the quarter. Kohmann Bosshard Financial Services LLC’s holdings in Alphabet were worth $1,418,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOG. Weiss Asset Management LP bought a new position in shares of Alphabet in the third quarter worth approximately $25,000. Fiduciary Advisors Inc. bought a new stake in Alphabet during the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet during the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in 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 worth $42,000 after acquiring an additional 117 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet in the fourth quarter valued at about $43,000. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $172.61 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a 50 day simple moving average of $191.13 and a two-hundred day simple moving average of $177.93. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The company has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer increased their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Scotiabank boosted their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the 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 directly owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,316 shares of company stock worth $25,062,887 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

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.