1ST Source Bank Sells 530 Shares of Alphabet Inc. (NASDAQ:GOOGL)

1ST Source Bank trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 103,094 shares of the information services provider’s stock after selling 530 shares during the quarter. Alphabet comprises about 1.1% of 1ST Source Bank’s investment portfolio, making the stock its 17th largest holding. 1ST Source Bank’s holdings in Alphabet were worth $19,516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Pettinga Financial Advisors LLC grew its holdings in shares of Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after purchasing an additional 201 shares in the last quarter. Impax Asset Management Group plc grew its stake in Alphabet by 6.8% during the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock worth $120,834,000 after buying an additional 46,677 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after buying an additional 337,031 shares during the period. Planning Capital Management Corp raised its position in shares of Alphabet by 20.7% in the 3rd quarter. Planning Capital Management Corp now owns 3,145 shares of the information services provider’s stock valued at $522,000 after buying an additional 540 shares in the last quarter. Finally, Curi RMB Capital LLC lifted its holdings in shares of Alphabet by 3.6% during the 3rd quarter. Curi RMB Capital LLC now owns 335,698 shares of the information services provider’s stock worth $55,676,000 after acquiring an additional 11,722 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Rosenblatt Securities restated a “neutral” rating and set a $205.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. DA Davidson lifted their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Wedbush raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,812 shares of company stock valued at $19,336,979. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $154.33 on Friday. The firm has a market capitalization of $1.88 trillion, a P/E ratio of 19.17, a P/E/G ratio of 1.34 and a beta of 1.02. The firm’s 50-day moving average price is $179.66 and its 200-day moving average price is $176.72. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $147.22 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

About Alphabet

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.