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

Midland Wealth Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,048 shares of the information services provider’s stock after selling 1,465 shares during the period. Alphabet accounts for approximately 0.3% of Midland Wealth Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Midland Wealth Advisors LLC’s holdings in Alphabet were worth $4,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Schear Investment Advisers LLC grew its stake in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares in the last quarter. Permanent Capital Management LP acquired a new position in shares of Alphabet in the fourth quarter valued at about $273,000. Landscape Capital Management L.L.C. grew its stake in shares of Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares in the last quarter. Glass Wealth Management Co LLC grew its stake in shares of Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Olistico Wealth LLC grew its stake in shares of Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after acquiring an additional 746 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $163.99 on Friday. The company has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. 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 firm has a 50 day moving average of $182.57 and a 200-day moving average of $176.51.

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

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on GOOGL. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “buy” rating and set a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. KeyCorp reduced their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus increased their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.59.

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.