Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,934 shares of the information services provider’s stock after buying an additional 1,285 shares during the period. OLD National Bancorp IN’s holdings in Alphabet were worth $7,141,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. CCM Investment Advisers LLC bought a new position in shares of Alphabet in the second quarter worth $223,000. BDF Gestion bought a new stake in shares of Alphabet during the 2nd quarter worth about $44,610,000. Cadent Capital Advisors LLC lifted its stake in shares of Alphabet by 5.5% in the 2nd quarter. Cadent Capital Advisors LLC now owns 3,877 shares of the information services provider’s stock worth $711,000 after acquiring an additional 201 shares during the period. VanderPol Investments L.L.C. bought a new position in shares of Alphabet in the second quarter valued at approximately $209,000. Finally, Dougherty Wealth Advisers LLC increased its stake in shares of Alphabet by 7.5% during the second quarter. Dougherty Wealth Advisers LLC now owns 4,644 shares of the information services provider’s stock valued at $852,000 after acquiring an additional 324 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $182.86.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the sale, the chief executive officer now directly owns 2,258,011 shares in the company, valued at approximately $391,132,665.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,808 shares of company stock worth $25,586,650. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.9 %

Shares of Alphabet stock traded up $1.55 during midday trading on Friday, reaching $165.39. 13,549,230 shares of the company’s stock traded hands, compared to its average volume of 20,609,316. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company’s 50 day simple moving average is $178.60 and its 200 day simple moving average is $163.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the company earned $1.44 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

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.