1ST Source Bank Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

1ST Source Bank grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,309 shares of the information services provider’s stock after purchasing an additional 1,245 shares during the quarter. 1ST Source Bank’s holdings in Alphabet were worth $9,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of GOOG. Weiss Asset Management LP purchased a new stake in Alphabet in the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter worth about $33,000. Abich Financial Wealth Management LLC increased its position in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $37,000. Finally, HWG Holdings LP purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,123 shares of company stock valued at $34,121,676. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.3 %

Shares of NASDAQ:GOOG traded down $0.67 during trading on Friday, reaching $192.96. 5,644,459 shares of the stock were exchanged, compared to its average volume of 19,604,092. The firm’s 50-day moving average price is $172.74 and its 200 day moving average price is $172.12. The firm has a market cap of $2.36 trillion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. Alphabet Inc. has a 12-month low of $131.06 and a 12-month high of $196.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the company posted $1.55 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GOOG. Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company raised their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup boosted their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.