Alphabet Inc. $GOOG Shares Sold by MIdWestOne Financial Group Inc.

MIdWestOne Financial Group Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 6.5% in the 4th quarter, Holdings Channel reports. The fund owned 24,121 shares of the information services provider’s stock after selling 1,681 shares during the period. Alphabet accounts for 0.8% of MIdWestOne Financial Group Inc.’s holdings, making the stock its 16th biggest holding. MIdWestOne Financial Group Inc.’s holdings in Alphabet were worth $7,569,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. acquired a new stake in Alphabet in the fourth quarter valued at approximately $38,000. Imprint Wealth LLC acquired a new stake in Alphabet in the third quarter valued at approximately $31,000. Towne Trust Company N.A grew its position in Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 34 shares in the last quarter. Commonwealth Retirement Investments LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $45,000. Finally, Creative Capital Management Investments LLC grew its position in shares of Alphabet by 1,438.5% during the fourth quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider’s stock worth $63,000 after buying an additional 187 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $356.56 on Friday. The business’s fifty day moving average price is $356.44 and its 200 day moving average price is $329.24. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47. The stock has a market capitalization of $4.32 trillion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same period last year, the business posted $2.81 earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOG shares. KeyCorp reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Truist Financial set a $430.00 price target on shares of Alphabet in a research report on Monday, June 1st. UBS Group reissued a “neutral” rating and set a $348.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, February 12th. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Finally, TD Cowen raised their price target on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $376.78.

Check Out Our Latest Analysis on Alphabet

Insider Activity

In related news, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider owned 51,808 shares in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 193,016 shares of company stock valued at $17,282,549 over the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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