Greater Midwest Financial Group LLC Has $10.51 Million Holdings in Alphabet Inc. $GOOGL

Greater Midwest Financial Group LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,661 shares of the information services provider’s stock after selling 7,834 shares during the period. Alphabet accounts for 8.0% of Greater Midwest Financial Group LLC’s holdings, making the stock its 3rd largest holding. Greater Midwest Financial Group LLC’s holdings in Alphabet were worth $10,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Alphabet Trading Down 2.8%

Shares of GOOGL stock opened at $278.57 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $292.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day simple moving average of $256.42 and a two-hundred day simple moving average of $207.79. The company has a market cap of $3.36 trillion, a P/E ratio of 27.47, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 221,796 shares of company stock worth $53,983,001. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Loop Capital upped their price target on Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, October 24th. KeyCorp restated an “overweight” rating and set a $300.00 price objective (up from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

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.