Midland Wealth Advisors LLC Sells 1,465 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Midland Wealth Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.2% during the fourth quarter, HoldingsChannel reports. The firm owned 22,048 shares of the information services provider’s stock after selling 1,465 shares during the quarter. Alphabet accounts for about 0.3% of Midland Wealth Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Midland Wealth Advisors LLC’s holdings in Alphabet were worth $4,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC raised its stake in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. JPMorgan Chase & Co. raised its stake in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Fisher Asset Management LLC raised its stake in Alphabet by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock valued at $9,581,427,000 after acquiring an additional 757,138 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Alphabet by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock valued at $7,278,910,000 after acquiring an additional 1,218,639 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.7 %

Shares of GOOGL opened at $163.99 on Friday. The firm has a market cap of $2.00 trillion, a P/E ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. The stock has a 50 day simple moving average of $182.57 and a two-hundred day simple moving average of $176.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Morgan Stanley lowered their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Stifel Nicolaus boosted their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.59.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by insiders.

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.