Alphabet Inc. $GOOG Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN increased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 35.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,050 shares of the information services provider's stock after acquiring an additional 13,811 shares during the period. OLD National Bancorp IN's holdings in Alphabet were worth $9,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. RDA Financial Network lifted its stake in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after buying an additional 554 shares in the last quarter. Tower View Wealth Management LLC lifted its stake in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock valued at $4,904,000 after buying an additional 1,776 shares in the last quarter. Oldfather Financial Services LLC purchased a new stake in Alphabet in the 2nd quarter valued at approximately $213,000. Truist Financial Corp lifted its stake in Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider's stock valued at $643,381,000 after buying an additional 15,065 shares in the last quarter. Finally, GC Wealth Management RIA LLC lifted its stake in Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider's stock valued at $38,031,000 after buying an additional 115,003 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Pivotal Research increased their price target on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Cowen reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research note on Saturday, September 27th. Finally, Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Five analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $235.33.

Alphabet Trading Down 1.7%

Shares of GOOG opened at $247.13 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The stock's fifty day simple moving average is $224.07 and its 200 day simple moving average is $188.32. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

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.

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