Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,632 shares of the information services provider’s stock after selling 878 shares during the period. Midland Wealth Advisors LLC’s holdings in Alphabet were worth $1,644,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its stake in shares of Alphabet by 0.6% during the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after buying an additional 51,226 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares during the period. Summit Wealth & Retirement Planning Inc. lifted its stake in shares of Alphabet by 3.2% during the third quarter. Summit Wealth & Retirement Planning Inc. now owns 5,164 shares of the information services provider’s stock worth $863,000 after buying an additional 160 shares during the period. Costello Asset Management INC lifted its stake in shares of Alphabet by 2.3% during the third quarter. Costello Asset Management INC now owns 29,710 shares of the information services provider’s stock worth $4,967,000 after buying an additional 660 shares during the period. Finally, Liberty Wealth Management LLC lifted its stake in shares of Alphabet by 0.7% during the third quarter. Liberty Wealth Management LLC now owns 11,270 shares of the information services provider’s stock worth $1,884,000 after buying an additional 76 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Scotiabank lifted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Transactions at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction dated 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 owns 15,024 shares in the company, valued at $2,606,213.28. The trade was a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,182 shares of company stock valued at $18,192,354 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 4.5 %

GOOG opened at $167.81 on Tuesday. Alphabet Inc. has a fifty-two week low of $137.07 and a fifty-two week high of $208.70. 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 fifty day moving average of $189.36 and a two-hundred day moving average of $178.09. The stock has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.34 and a beta of 1.03.

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

Alphabet Dividend Announcement

The business 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 is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.94%.

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.