Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 452,795 shares of the information services provider’s stock after selling 3,113 shares during the period. Alphabet makes up approximately 2.0% of OLD National Bancorp IN’s portfolio, making the stock its 8th biggest holding. OLD National Bancorp IN’s holdings in Alphabet were worth $85,714,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Newport Capital Group LLC purchased a new stake in shares of Alphabet in the second quarter valued at approximately $1,111,000. Gateway Wealth Partners LLC grew its position in shares of Alphabet by 4.6% in the second quarter. Gateway Wealth Partners LLC now owns 10,765 shares of the information services provider’s stock valued at $1,961,000 after purchasing an additional 472 shares during the period. Kimelman & Baird LLC purchased a new stake in shares of Alphabet during the second quarter worth about $52,394,000. Brandes Investment Partners LP lifted its position in shares of Alphabet by 3.3% in the second quarter. Brandes Investment Partners LP now owns 414,107 shares of the information services provider’s stock valued at $75,515,000 after acquiring an additional 13,096 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of Alphabet by 2.8% during the second quarter. EP Wealth Advisors LLC now owns 869,170 shares of the information services provider’s stock worth $158,319,000 after buying an additional 23,472 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock valued at $16,600,078 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $185.34 on Friday. The stock’s 50-day simple moving average is $191.28 and its 200-day simple moving average is $174.64. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.27 trillion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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 return on equity of 31.66% and a net margin of 27.74%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Citigroup reduced their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Finally, Cantor Fitzgerald lowered their price target on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

About Alphabet

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.