Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,794 shares of the information services provider’s stock after selling 1,417 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Alphabet were worth $3,283,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Insight Inv LLC boosted its holdings in shares of Alphabet by 2.1% during the third quarter. Insight Inv LLC now owns 16,700 shares of the information services provider’s stock worth $2,770,000 after purchasing an additional 345 shares during the last quarter. Goodman Advisory Group LLC lifted its position in Alphabet by 2.0% during the third quarter. Goodman Advisory Group LLC now owns 43,064 shares of the information services provider’s stock worth $7,142,000 after buying an additional 852 shares during the period. Valued Retirements Inc. acquired a new stake in Alphabet in the 3rd quarter worth about $435,000. 3Chopt Investment Partners LLC grew its holdings in Alphabet by 118.9% in the 3rd quarter. 3Chopt Investment Partners LLC now owns 12,532 shares of the information services provider’s stock valued at $2,078,000 after buying an additional 6,807 shares during the period. Finally, Brophy Wealth Management LLC acquired a new position in shares of Alphabet during the 3rd quarter valued at about $4,927,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.6 %

NASDAQ GOOGL opened at $195.42 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. The company has a 50-day simple moving average of $172.93 and a 200-day simple moving average of $170.97. The firm has a market capitalization of $2.39 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the firm posted $1.55 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,957 shares of company stock worth $31,358,687. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOOGL shares. Wells Fargo & Company raised their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Tigress Financial boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. KeyCorp increased their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Finally, Bank of America raised their price objective on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Alphabet 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.