1ST Source Bank Decreases Position in Alphabet Inc. (NASDAQ:GOOGL)

1ST Source Bank trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,624 shares of the information services provider’s stock after selling 1,563 shares during the period. Alphabet comprises approximately 1.0% of 1ST Source Bank’s portfolio, making the stock its 16th largest position. 1ST Source Bank’s holdings in Alphabet were worth $17,186,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. LMR Partners LLP purchased a new position in Alphabet during the 3rd quarter valued at about $32,000. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter valued at approximately $36,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on GOOGL shares. JPMorgan Chase & Co. raised their price target on Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday. KeyCorp raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.69.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 27,824 shares of the company’s stock, valued at $4,590,960. This trade represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock worth $31,358,687 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Up 0.1 %

Alphabet stock opened at $188.51 on Friday. The stock has a market cap of $2.31 trillion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a fifty day moving average of $173.99 and a 200 day moving average of $171.21. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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 firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the firm earned $1.55 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s payout ratio is presently 10.61%.

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.