Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by 1ST Source Bank

1ST Source Bank boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the 3rd 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 acquiring 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 SEC filing.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after buying an additional 259,213 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after buying an additional 3,113,395 shares during the period. Jennison Associates LLC raised its holdings in shares of Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after acquiring an additional 636,008 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective 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. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,123 shares of company stock worth $34,121,676. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

GOOG traded down $0.67 during midday trading on Friday, reaching $192.96. The company’s stock had a trading volume of 5,644,459 shares, compared to its average volume of 19,604,092. Alphabet Inc. has a twelve month low of $131.06 and a twelve month high of $196.89. The stock has a market cap of $2.36 trillion, a P/E ratio of 25.68, a PEG ratio of 1.38 and a beta of 1.02. The company has a fifty day simple moving average of $172.74 and a 200 day simple moving average of $172.12. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.