Alphabet Inc. (NASDAQ:GOOG) Position Lowered by Prairie Wealth Advisors Inc.

Prairie Wealth Advisors Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,079 shares of the information services provider’s stock after selling 305 shares during the period. Alphabet comprises approximately 1.7% of Prairie Wealth Advisors Inc.’s portfolio, making the stock its 9th largest position. Prairie Wealth Advisors Inc.’s holdings in Alphabet were worth $3,633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fairvoy Private Wealth LLC purchased a new stake in Alphabet during the 4th quarter worth about $1,029,000. BSN CAPITAL PARTNERS Ltd lifted its stake in Alphabet by 189.8% during the fourth quarter. BSN CAPITAL PARTNERS Ltd now owns 300,000 shares of the information services provider’s stock worth $57,045,000 after purchasing an additional 196,470 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Alphabet by 4.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 688,178 shares of the information services provider’s stock valued at $131,057,000 after purchasing an additional 29,831 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Alphabet by 80.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,251,611 shares of the information services provider’s stock valued at $238,370,000 after purchasing an additional 558,040 shares during the last quarter. Finally, Telligent Fund LP acquired a new stake in Alphabet during the 4th quarter worth $1,524,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GOOG shares. Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup raised their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group upped their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $188.20 on Tuesday. The business has a fifty day moving average of $193.12 and a two-hundred day moving average of $176.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The company has a market cap of $2.30 trillion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio is presently 9.94%.

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.