Alphabet Inc. $GOOGL Stake Boosted by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 110.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,994 shares of the information services provider’s stock after acquiring an additional 2,621 shares during the period. Horizon Bancorp Inc. IN’s holdings in Alphabet were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Financial Security Advisor Inc. grew its stake in Alphabet by 5.9% in the second quarter. Financial Security Advisor Inc. now owns 44,696 shares of the information services provider’s stock valued at $7,877,000 after purchasing an additional 2,473 shares in the last quarter. Trevian Wealth Management LLC lifted its holdings in shares of Alphabet by 9.8% during the 2nd quarter. Trevian Wealth Management LLC now owns 4,219 shares of the information services provider’s stock valued at $744,000 after buying an additional 375 shares during the last quarter. Callan Family Office LLC lifted its holdings in shares of Alphabet by 215.0% during the 2nd quarter. Callan Family Office LLC now owns 197,241 shares of the information services provider’s stock valued at $34,760,000 after buying an additional 134,616 shares during the last quarter. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Finally, Boomfish Wealth Group LLC grew its stake in shares of Alphabet by 16.0% in the 2nd quarter. Boomfish Wealth Group LLC now owns 2,564 shares of the information services provider’s stock valued at $452,000 after buying an additional 354 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. Loop Capital reaffirmed a “hold” rating and set a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Westpark Capital raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Wedbush lifted their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Jefferies Financial Group increased their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.24.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $253.30 on Monday. The firm has a market capitalization of $3.06 trillion, a PE ratio of 26.98, a PEG ratio of 1.71 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.96. The business’s 50 day moving average is $231.55 and its 200-day moving average is $192.14.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

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.