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

1ST Source Bank cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 4th quarter, according to its most recent Form 13F filing 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 quarter. Alphabet makes up approximately 0.6% of 1ST Source Bank’s portfolio, making the stock its 24th largest holding. 1ST Source Bank’s holdings in Alphabet were worth $10,427,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GOOG. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the third quarter worth approximately $33,000. Noble Wealth Management PBC acquired a new stake in Alphabet during the fourth quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. boosted its position in Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after acquiring an additional 167 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOG. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Oppenheimer increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % 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. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $167.62 on Monday. The company has a fifty day simple moving average of $187.41 and a 200 day simple moving average of $178.10. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a twelve month low of $141.13 and a twelve month high of $208.70. 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 (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 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.