Midwest Professional Planners LTD. Has $2.10 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Midwest Professional Planners LTD. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,015 shares of the information services provider’s stock after buying an additional 895 shares during the period. Midwest Professional Planners LTD.’s holdings in Alphabet were worth $2,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Weiss Asset Management LP acquired a new stake in Alphabet in the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet in the 3rd quarter valued at about $33,000. Noble Wealth Management PBC bought a new position in shares of Alphabet in the 4th quarter valued at about $43,000. Finally, FPC Investment Advisory Inc. grew its position in shares of Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 167 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Wedbush reissued an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Finally, Scotiabank lifted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Performance

NASDAQ GOOG opened at $164.73 on Friday. 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 company has a market capitalization of $2.01 trillion, a P/E ratio of 20.46, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $141.13 and a 12-month high of $208.70. The firm has a 50-day moving average price of $187.92 and a two-hundred day moving average price of $177.92.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,882 shares of company stock valued at $17,934,130 in the last quarter. Company insiders own 12.99% of the company’s stock.

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.