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

OLD National Bancorp IN lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 455,908 shares of the information services provider’s stock after selling 21,352 shares during the period. Alphabet accounts for about 1.7% of OLD National Bancorp IN’s holdings, making the stock its 9th biggest position. OLD National Bancorp IN’s holdings in Alphabet were worth $75,612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Burns J W & Co. Inc. NY boosted its holdings in Alphabet by 7.4% in the 1st quarter. Burns J W & Co. Inc. NY now owns 24,861 shares of the information services provider’s stock valued at $3,752,000 after purchasing an additional 1,720 shares in the last quarter. Grimes & Company Inc. boosted its stake in shares of Alphabet by 1.6% in the first quarter. Grimes & Company Inc. now owns 176,121 shares of the information services provider’s stock valued at $26,582,000 after buying an additional 2,727 shares in the last quarter. Saratoga Research & Investment Management raised its position in Alphabet by 19.1% in the first quarter. Saratoga Research & Investment Management now owns 1,001,128 shares of the information services provider’s stock worth $151,100,000 after acquiring an additional 160,884 shares in the last quarter. First Bank & Trust lifted its holdings in Alphabet by 2.5% in the first quarter. First Bank & Trust now owns 9,694 shares of the information services provider’s stock valued at $1,463,000 after acquiring an additional 239 shares during the period. Finally, Baker Ellis Asset Management LLC grew its position in Alphabet by 5.7% during the first quarter. Baker Ellis Asset Management LLC now owns 21,355 shares of the information services provider’s stock worth $3,223,000 after buying an additional 1,150 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday. Bank of America increased their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday. Guggenheim boosted their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Loop Capital reaffirmed a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Stock Up 2.8 %

Shares of NASDAQ:GOOGL opened at $174.46 on Thursday. Alphabet Inc. has a 12-month low of $122.68 and a 12-month high of $191.75. 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 firm has a market cap of $2.16 trillion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a fifty day simple moving average of $162.17 and a 200 day simple moving average of $168.78.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the firm earned $1.55 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.65 EPS for the current fiscal year.

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.