OLD National Bancorp IN Acquires 729 Shares of Alphabet Inc. (NASDAQ:GOOG)

OLD National Bancorp IN increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,663 shares of the information services provider’s stock after purchasing an additional 729 shares during the period. OLD National Bancorp IN’s holdings in Alphabet were worth $6,631,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Abich Financial Wealth Management LLC lifted its stake in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the 2nd quarter valued at approximately $37,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter valued at approximately $40,000. Slocum Gordon & Co LLP bought a new stake in Alphabet in the 2nd quarter valued at approximately $44,000. Finally, Hoese & Co LLP lifted its stake in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.3 %

GOOG stock opened at $165.05 on Monday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50 day simple moving average is $163.18 and its 200 day simple moving average is $169.77. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm has a market capitalization of $2.04 trillion, a PE ratio of 25.31, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating 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 analyst estimates of $84.22 billion. During the same period in the prior year, the firm posted $1.44 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on GOOG shares. Oppenheimer lowered their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Scotiabank started coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

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.