Greater Midwest Financial Group LLC Reduces Holdings in Alphabet Inc. $GOOGL

Greater Midwest Financial Group LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,661 shares of the information services provider’s stock after selling 7,834 shares during the period. Alphabet comprises about 8.0% of Greater Midwest Financial Group LLC’s portfolio, making the stock its 3rd largest holding. Greater Midwest Financial Group LLC’s holdings in Alphabet were worth $10,514,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Guardian Wealth Management Inc. raised its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the period. Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the 1st quarter valued at $39,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 2.8%

Shares of NASDAQ:GOOGL opened at $278.57 on Friday. The business’s 50 day simple moving average is $256.42 and its 200 day simple moving average is $207.79. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $292.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $3.36 trillion, a P/E ratio of 27.47, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 221,796 shares of company stock valued at $53,983,001 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus set a $333.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Jefferies Financial Group increased their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. President Capital raised their price objective on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Roth Capital upped their target price on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Wedbush reiterated an “outperform” rating and set a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $304.10.

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.