Midland Wealth Advisors LLC Sells 878 Shares of Alphabet Inc. (NASDAQ:GOOG)

Midland Wealth Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Lowery Thomas LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $218,000. FWG Holdings LLC lifted its holdings in shares of Alphabet by 1.3% in the 4th quarter. FWG Holdings LLC now owns 7,569 shares of the information services provider’s stock valued at $1,534,000 after acquiring an additional 100 shares during the last quarter. Moran Wealth Management LLC lifted its holdings in shares of Alphabet by 2.5% in the 4th quarter. Moran Wealth Management LLC now owns 113,629 shares of the information services provider’s stock valued at $21,640,000 after acquiring an additional 2,777 shares during the last quarter. Main Street Research LLC lifted its holdings in shares of Alphabet by 8.0% in the 4th quarter. Main Street Research LLC now owns 20,368 shares of the information services provider’s stock valued at $3,879,000 after acquiring an additional 1,516 shares during the last quarter. Finally, New Insight Wealth Advisors lifted its holdings in shares of Alphabet by 2.8% in the 4th quarter. New Insight Wealth Advisors now owns 2,822 shares of the information services provider’s stock valued at $537,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wedbush reissued an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,182 shares of company stock valued at $18,192,354 over the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $167.81 on Tuesday. The firm has a market cap of $2.05 trillion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm’s 50 day simple moving average is $189.36 and its 200-day simple moving average is $178.09. Alphabet Inc. has a one year low of $137.07 and a one year 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.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 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.