Midland Wealth Advisors LLC Sells 253 Shares of Alphabet Inc. (NASDAQ:GOOG)

Midland Wealth Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,379 shares of the information services provider’s stock after selling 253 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Alphabet were worth $1,309,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOG. ARQ Wealth Advisors LLC raised its position in Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after acquiring an additional 1,400 shares in the last quarter. Independence Bank of Kentucky raised its position in Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock worth $2,329,000 after acquiring an additional 1,376 shares in the last quarter. Harvest Investment Services LLC raised its position in Alphabet by 3.3% during the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after acquiring an additional 138 shares in the last quarter. North Forty Two & Co. bought a new stake in Alphabet during the fourth quarter worth $281,000. Finally, Fermata Advisors LLC raised its position in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after acquiring an additional 259 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.5%

GOOG opened at $177.63 on Tuesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a 50-day simple moving average of $162.26 and a 200 day simple moving average of $176.17. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. Alphabet’s revenue was up 12.0% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the transaction, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,770 shares of company stock worth $32,036,638 in the last quarter. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. UBS Group dropped their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Needham & Company LLC downgraded shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Finally, KeyCorp decreased their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

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.