1ST Source Bank Sells 572 Shares of Alphabet Inc. (NASDAQ:GOOG)

1ST Source Bank reduced its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,064 shares of the information services provider’s stock after selling 572 shares during the period. Alphabet makes up about 0.6% of 1ST Source Bank’s investment portfolio, making the stock its 26th biggest holding. 1ST Source Bank’s holdings in Alphabet were worth $9,916,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the second quarter valued at approximately $37,000. Richardson Financial Services Inc. bought a new stake in Alphabet in the fourth quarter valued at $34,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter valued at $44,000. Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new position in shares of Alphabet in the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 27.26% of the company’s shares.

Analyst upgrades and downgrades

GOOG has been the subject of several analyst reports. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $182.86, according to MarketBeat.

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Insider activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,867 shares of company stock worth $34,218,581. Corporate insiders own 12.99% of the company’s shares.

Alphabet trading up 1.8%

Shares of NASDAQ:GOOG opened at $158.37 on Friday. The stock’s 50-day simple moving average is $169.06, and its two-hundred-day simple moving average is $166.15. The stock has a market cap of $1.95 trillion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. it has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. In the same quarter last year, the company posted earnings of $1.44 per share. The company’s revenue was up 13.6% compared to the same quarter last year. Analysts expect Alphabet Inc. will record 7.63 EPS for the current year.

Alphabetical announcement of dividends

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9. This represents a dividend of $0.80 on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio is currently 12.27%.

Profile of the alphabet

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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