Alphabet Inc. (NASDAQ:GOOGL) is OLD National Bancorp IN’s 9th Largest Position

OLD National Bancorp IN boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 501,534 shares of the information services provider’s stock after purchasing an additional 16,581 shares during the quarter. Alphabet comprises 1.8% of OLD National Bancorp IN’s portfolio, making the stock its 9th largest position. OLD National Bancorp IN’s holdings in Alphabet were worth $70,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aire Advisors LLC raised its stake in Alphabet by 0.6% during the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after acquiring an additional 68 shares during the period. Defined Wealth Management LLC increased its stake in shares of Alphabet by 2.9% in the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after purchasing an additional 71 shares in the last quarter. WealthCare Investment Partners LLC lifted its stake in shares of Alphabet by 2.1% during the 4th quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after buying an additional 71 shares in the last quarter. Peoples Financial Services CORP. boosted its holdings in Alphabet by 0.4% in the 4th quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock worth $2,331,000 after buying an additional 72 shares during the period. Finally, RAM Investment Partners LLC increased its stake in Alphabet by 1.0% in the 4th quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock worth $1,055,000 after buying an additional 73 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Mizuho upped their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. Canaccord Genuity Group boosted their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group raised their price objective on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $189.44.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders have sold a total of 253,209 shares of company stock valued at $36,711,144 over the last quarter. 0.88% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOGL stock opened at $166.15 on Tuesday. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.57 and a beta of 1.05. Alphabet Inc. has a twelve month low of $103.71 and a twelve month high of $174.71. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $148.36 and its two-hundred day simple moving average is $141.62.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter last year, the business posted $1.17 EPS. Analysts predict that Alphabet Inc. will post 6.82 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%.

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.