MidWestOne Financial Group Inc. Sells 1,041 Shares of Alphabet Inc. (NASDAQ:GOOG)

MidWestOne Financial Group Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 26,259 shares of the information services provider’s stock after selling 1,041 shares during the quarter. Alphabet makes up about 0.9% of MidWestOne Financial Group Inc.’s holdings, making the stock its 16th biggest holding. MidWestOne Financial Group Inc.’s holdings in Alphabet were worth $4,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Swedbank AB bought a new stake in shares of Alphabet in the 1st quarter valued at about $1,378,708,000. Capital International Investors boosted its holdings in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Alphabet by 51.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after acquiring an additional 2,190,795 shares during the last quarter. Finally, Vima LLC increased its stake in Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOG opened at $165.29 on Friday. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.04 trillion, a P/E ratio of 25.35, a P/E/G ratio of 1.21 and a beta of 1.04. The business’s 50 day moving average price is $164.34 and its 200-day moving average price is $167.77.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now owns 27,824 shares of the company’s stock, valued at $4,590,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 27,824 shares of the company’s stock, valued at $4,590,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,367 shares of company stock valued at $34,079,756. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOG shares. Oppenheimer dropped their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.29.

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.