Alphabet Inc. (NASDAQ:GOOG) Holdings Lowered by OLD National Bancorp IN

OLD National Bancorp IN trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 25.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,131 shares of the information services provider’s stock after selling 14,893 shares during the quarter. OLD National Bancorp IN’s holdings in Alphabet were worth $6,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cranbrook Wealth Management LLC raised its holdings in shares of Alphabet by 14.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after purchasing an additional 70 shares in the last quarter. Columbia Trust Co 01012016 raised its holdings in shares of Alphabet by 3.7% in the 3rd quarter. Columbia Trust Co 01012016 now owns 2,087 shares of the information services provider’s stock worth $275,000 after purchasing an additional 74 shares in the last quarter. Manchester Financial Inc. raised its holdings in shares of Alphabet by 3.6% in the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after purchasing an additional 74 shares in the last quarter. Atticus Wealth Management LLC raised its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after purchasing an additional 75 shares in the last quarter. Finally, Congress Park Capital LLC raised its holdings in shares of Alphabet by 0.3% in the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after purchasing an additional 76 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG opened at $159.92 on Wednesday. The company’s 50 day moving average price is $147.92 and its 200 day moving average price is $142.27. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. The company has a market capitalization of $1.99 trillion, a PE ratio of 27.57, a PEG ratio of 1.46 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $159.86.

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.