Alphabet Inc. $GOOG Shares Sold by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,100 shares of the information services provider’s stock after selling 279 shares during the period. Midland Wealth Advisors LLC’s holdings in Alphabet were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its holdings in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. JPMorgan Chase & Co. grew its position in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after purchasing an additional 440,526 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $291.74 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.34. The firm’s 50-day simple moving average is $254.94 and its 200-day simple moving average is $207.64. The firm has a market cap of $3.53 trillion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the company posted $2.12 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 221,796 shares of company stock valued at $53,983,001 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. KeyCorp reissued an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Piper Sandler lifted their target price on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Morgan Stanley boosted their price target on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

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.