Alphabet Inc. $GOOGL Holdings Boosted by Indiana Trust & Investment Management Co

Key Points

• Indiana Trust & Investment Management Co increased its stake in Alphabet Inc. by 3.6%, owning 48,126 shares valued at approximately $7.44 million.
• Insider sales were notable, with CEO Sundar Pichai selling 32,500 shares for about $6.5 million, reducing his ownership stake by 1.3%.
• Alphabet announced a quarterly dividend of $0.21 per share, which will be paid on September 15, reflecting a low payout ratio of 8.95%.

Indiana Trust & Investment Management Co grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,126 shares of the information services provider's stock after purchasing an additional 1,662 shares during the quarter. Alphabet makes up about 2.7% of Indiana Trust & Investment Management Co's holdings, making the stock its 8th largest position. Indiana Trust & Investment Management Co's holdings in Alphabet were worth $7,442,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. MBL Wealth LLC grew its holdings in shares of Alphabet by 1.1% during the first quarter. MBL Wealth LLC now owns 23,884 shares of the information services provider's stock worth $3,693,000 after purchasing an additional 256 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Alphabet by 20.1% during the first quarter. Geneos Wealth Management Inc. now owns 74,363 shares of the information services provider's stock worth $11,499,000 after buying an additional 12,420 shares during the last quarter. Acorns Advisers LLC grew its holdings in shares of Alphabet by 20.3% during the first quarter. Acorns Advisers LLC now owns 4,826 shares of the information services provider's stock worth $746,000 after buying an additional 814 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Alphabet by 12.4% during the first quarter. Belpointe Asset Management LLC now owns 73,460 shares of the information services provider's stock worth $11,360,000 after buying an additional 8,103 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in shares of Alphabet by 11.0% during the first quarter. Focus Partners Wealth now owns 2,126,417 shares of the information services provider's stock worth $328,799,000 after buying an additional 211,213 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock valued at $49,208,380. 11.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp raised their price target on Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Wells Fargo & Company raised their price target on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Truist Financial reissued a "buy" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Oppenheimer restated an "outperform" rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Finally, Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $221.44.

Alphabet Trading Down 0.4%

NASDAQ:GOOGL opened at $238.57 on Wednesday. The company has a market capitalization of $2.89 trillion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $240.47. The stock has a fifty day simple moving average of $198.22 and a 200-day simple moving average of $176.17.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

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.

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