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

1ST Source Bank cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,754 shares of the information services provider’s stock after selling 555 shares during the period. Alphabet makes up approximately 0.6% of 1ST Source Bank’s holdings, making the stock its 24th biggest position. 1ST Source Bank’s holdings in Alphabet were worth $10,427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the fourth quarter valued at approximately $27,000. Weiss Asset Management LP acquired a new stake in Alphabet during the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the third quarter valued at approximately $33,000. Noble Wealth Management PBC acquired a new stake in shares of Alphabet during the fourth quarter valued at approximately $43,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 167 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 93,048 shares of company stock valued at $17,374,274. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Scotiabank upped their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

Shares of GOOG opened at $167.62 on Monday. The company’s fifty day moving average is $187.41 and its 200-day moving average is $178.10. Alphabet Inc. has a 12 month low of $141.13 and a 12 month high of $208.70. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.