Prairie Wealth Advisors Inc. Sells 305 Shares of Alphabet Inc. (NASDAQ:GOOG)

Prairie Wealth Advisors Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 holdings, making the stock its 9th biggest holding. Prairie Wealth Advisors Inc.’s holdings in Alphabet were worth $3,633,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its holdings in Alphabet by 42.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,511 shares of the information services provider’s stock valued at $1,089,000 after buying an additional 1,953 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Alphabet in the third quarter worth approximately $204,000. Armstrong Advisory Group Inc. grew its holdings in Alphabet by 2.8% in the third quarter. Armstrong Advisory Group Inc. now owns 4,118 shares of the information services provider’s stock valued at $688,000 after purchasing an additional 113 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Alphabet by 3.1% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 275,071 shares of the information services provider’s stock worth $45,989,000 after purchasing an additional 8,270 shares during the last quarter. Finally, Thomasville National Bank raised its stake in Alphabet by 0.3% during the third quarter. Thomasville National Bank now owns 298,259 shares of the information services provider’s stock worth $49,866,000 after purchasing an additional 990 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Six investment 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. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

Shares of GOOG stock opened at $188.20 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The company’s fifty day moving average price is $193.12 and its two-hundred day moving average price is $176.14. The firm has a market capitalization of $2.30 trillion, a P/E ratio of 23.38, a P/E/G ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,529 shares of company stock worth $16,600,078. Insiders own 12.99% of the company’s stock.

Alphabet Company 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.