Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,794 shares of the information services provider’s stock after selling 1,417 shares during the period. MidWestOne Financial Group Inc.’s holdings in Alphabet were worth $3,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Insight Inv LLC grew its holdings in Alphabet by 2.1% in the third quarter. Insight Inv LLC now owns 16,700 shares of the information services provider’s stock valued at $2,770,000 after purchasing an additional 345 shares during the period. Goodman Advisory Group LLC lifted its position in shares of Alphabet by 2.0% during the 3rd quarter. Goodman Advisory Group LLC now owns 43,064 shares of the information services provider’s stock valued at $7,142,000 after buying an additional 852 shares in the last quarter. Valued Retirements Inc. acquired a new stake in Alphabet in the 3rd quarter valued at $435,000. 3Chopt Investment Partners LLC increased its holdings in Alphabet by 118.9% in the 3rd quarter. 3Chopt Investment Partners LLC now owns 12,532 shares of the information services provider’s stock worth $2,078,000 after acquiring an additional 6,807 shares in the last quarter. Finally, Brophy Wealth Management LLC acquired a new position in Alphabet during the third quarter worth $4,927,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $195.42 on Wednesday. The company has a market cap of $2.39 trillion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. The business has a fifty day moving average of $172.93 and a two-hundred day moving average of $170.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 4.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. The trade was a 27.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,957 shares of company stock valued at $31,358,687 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Piper Sandler reissued an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

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.