OLD National Bancorp IN Decreases Holdings in Alphabet Inc. (GOOG)
OLD National Bancorp IN lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,365 shares of the information services provider’s stock after selling 304 shares during the quarter. OLD National Bancorp IN’s holdings in Alphabet were worth $3,967,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GOOG. CGOV Asset Management boosted its holdings in shares of Alphabet by 0.4% during the first quarter. CGOV Asset Management now owns 1,405 shares of the information services provider’s stock valued at $1,553,000 after acquiring an additional 5 shares during the period. Courier Capital LLC boosted its holdings in shares of Alphabet by 39.3% during the first quarter. Courier Capital LLC now owns 532 shares of the information services provider’s stock valued at $441,000 after acquiring an additional 150 shares during the period. Mount Vernon Associates Inc. MD boosted its holdings in shares of Alphabet by 3.4% during the first quarter. Mount Vernon Associates Inc. MD now owns 2,117 shares of the information services provider’s stock valued at $1,756,000 after acquiring an additional 70 shares during the period. Hartford Financial Management Inc. boosted its holdings in shares of Alphabet by 29.4% during the first quarter. Hartford Financial Management Inc. now owns 308 shares of the information services provider’s stock valued at $255,000 after acquiring an additional 70 shares during the period. Finally, Macnealy Hoover Investment Management Inc. boosted its holdings in shares of Alphabet by 1.1% during the first quarter. Macnealy Hoover Investment Management Inc. now owns 2,020 shares of the information services provider’s stock valued at $1,675,000 after acquiring an additional 21 shares during the period. 34.53% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ GOOG) traded up 0.92% during trading on Friday, reaching $978.89. The company had a trading volume of 1,173,882 shares. The firm has a market capitalization of $678.25 billion, a PE ratio of 35.48 and a beta of 0.94. The firm’s 50 day moving average price is $932.79 and its 200 day moving average price is $918.65. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $988.25.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same quarter in the previous year, the company posted $8.42 EPS. The business’s revenue was up 21.0% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current year.
Several brokerages have recently issued reports on GOOG. Canaccord Genuity downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target for the company. in a report on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reissued a “hold” rating and set a $980.00 price target (down previously from $990.00) on shares of Alphabet in a report on Monday, July 17th. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Susquehanna Bancshares Inc restated a “positive” rating and set a $1,200.00 price objective on shares of Alphabet in a research note on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,034.31.
In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total transaction of $3,879,680.00. Following the sale, the chief executive officer now owns 1,536 shares in the company, valued at approximately $1,489,797.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $959.26, for a total value of $175,544.58. The disclosure for this sale can be found here. Insiders sold a total of 42,694 shares of company stock worth $39,941,804 in the last quarter. Corporate insiders own 13.92% of the company’s stock.
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Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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