OLD National Bancorp IN Sells 19,205 Shares of Alphabet Inc. (NASDAQ:GOOGL)

OLD National Bancorp IN lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 433,590 shares of the information services provider's stock after selling 19,205 shares during the quarter. Alphabet makes up approximately 1.8% of OLD National Bancorp IN's portfolio, making the stock its 11th biggest position. OLD National Bancorp IN's holdings in Alphabet were worth $67,050,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOGL. SOA Wealth Advisors LLC. raised its stake in Alphabet by 65.6% during the 1st quarter. SOA Wealth Advisors LLC. now owns 60,970 shares of the information services provider's stock valued at $9,428,000 after acquiring an additional 24,148 shares during the last quarter. Flagship Private Wealth LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $572,000. Kennebec Savings Bank grew its stake in shares of Alphabet by 3.3% during the 1st quarter. Kennebec Savings Bank now owns 14,855 shares of the information services provider's stock worth $2,297,000 after purchasing an additional 478 shares during the period. KMG Fiduciary Partners LLC grew its position in Alphabet by 4.0% during the first quarter. KMG Fiduciary Partners LLC now owns 187,056 shares of the information services provider's stock worth $28,926,000 after buying an additional 7,190 shares during the period. Finally, RDA Financial Network boosted its stake in shares of Alphabet by 4.1% during the 1st quarter. RDA Financial Network now owns 51,821 shares of the information services provider's stock worth $8,014,000 after acquiring an additional 2,026 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GOOGL shares. Oppenheimer raised their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Wells Fargo & Company lifted their price target on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Mizuho cut their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald lowered their price objective on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Morgan Stanley dropped their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $3.81 during trading hours on Tuesday, hitting $179.90. The stock had a trading volume of 23,046,734 shares, compared to its average volume of 30,181,786. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock's fifty day simple moving average is $160.52 and its 200 day simple moving average is $174.46. The firm has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the firm posted $1.89 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,770 shares of company stock worth $32,036,638. Corporate insiders own 11.64% of the company's stock.

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.