OLD National Bancorp IN Has $85.71 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

OLD National Bancorp IN decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 452,795 shares of the information services provider’s stock after selling 3,113 shares during the quarter. Alphabet accounts for 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 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its stake in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the period. Finally, Clearbridge Investments LLC lifted its position in Alphabet by 115.4% in the second quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider’s stock worth $1,264,022,000 after buying an additional 3,718,420 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 3.3 %

NASDAQ:GOOGL opened at $185.34 on Friday. The company’s 50-day simple moving average is $191.28 and its 200-day simple moving average is $174.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.27 trillion, a P/E ratio of 24.58, a P/E/G 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 for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. On average, equities analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid 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 (DPR) is 10.61%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The stock was 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 of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock valued at $16,600,078 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. Needham & Company LLC reiterated a “buy” rating and set a $225.00 price objective on shares of Alphabet in a research report on Wednesday. Loop Capital upped their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research note on Thursday. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Wedbush increased their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $210.62.

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.