OLD National Bancorp IN Reduces Stock Holdings in Alphabet Inc. $GOOGL

OLD National Bancorp IN lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 430,102 shares of the information services provider’s stock after selling 36,000 shares during the quarter. Alphabet makes up about 2.2% of OLD National Bancorp IN’s portfolio, making the stock its 7th biggest position. OLD National Bancorp IN’s holdings in Alphabet were worth $134,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Symmetry Partners LLC lifted its holdings in shares of Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after purchasing an additional 30 shares during the last quarter. Members Trust Co lifted its holdings in shares of Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after purchasing an additional 31 shares during the last quarter. Altfest L J & Co. Inc. lifted its holdings in shares of Alphabet by 0.4% during the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after purchasing an additional 31 shares during the last quarter. Lifelong Wealth Advisors Inc. lifted its holdings in shares of Alphabet by 1.9% during the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,728 shares of the information services provider’s stock valued at $541,000 after purchasing an additional 33 shares during the last quarter. Finally, White Wing Wealth Management lifted its holdings in shares of Alphabet by 2.9% during the 4th quarter. White Wing Wealth Management now owns 1,155 shares of the information services provider’s stock valued at $362,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet unveiled upcoming AI-powered bidding and budget-pacing tools for Google Ads, which could make Search and Shopping advertising more efficient and attractive for advertisers. Google AI Automates Ad Bidding and Budget Pacing
• Positive Sentiment: Multiple analysts raised price targets on Alphabet, including DBS Bank to $460 and other firms lifting estimates after the company’s earnings beat, reinforcing the view that results remain stronger than expected. DBS Bank Adjusts Price Target on Alphabet to 460
• Positive Sentiment: Google Cloud’s partnership with OTB Group on a generative-AI virtual try-on experience adds to the narrative that Alphabet can monetize AI across enterprise and retail use cases. Google Cloud Partners With OTB Group
• Positive Sentiment: Reports highlighted strong investor appetite for AI leaders such as Google, and recent coverage continues to frame Alphabet as one of the main beneficiaries of the AI spending cycle. Google, Broadcom Drive Delirious Demand
• Positive Sentiment: Recent reports on Google’s AI “agent” efforts and AI search features suggest Alphabet is expanding its product lead in next-generation search and automation tools. Meta, Google enter AI agent race
• Neutral Sentiment: Alphabet is also getting more time to address EU regulators’ concerns in an ongoing antitrust investigation, which removes some immediate pressure but does not eliminate the legal overhang. Google Gets More Time in EU Investigation
• Negative Sentiment: Google faces a new UK lawsuit over online display ads, adding another antitrust/legal risk that could weigh on sentiment if regulatory scrutiny intensifies. Google Faces New UK Lawsuit Over Online Display Ads

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. DZ Bank reiterated a “buy” rating on shares of Alphabet in a report on Monday, February 16th. Moffett Nathanson increased their price objective on Alphabet from $305.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Wedbush increased their price objective on Alphabet from $360.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Cantor Fitzgerald increased their price objective on Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $407.86.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider owned 51,808 shares of the company’s stock, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 158,553 shares of company stock worth $47,951,856 in the last quarter. 11.61% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $400.69 on Monday. The stock has a 50-day moving average of $318.66 and a two-hundred day moving average of $311.72. Alphabet Inc. has a one year low of $152.20 and a one year high of $402.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market cap of $4.85 trillion, a P/E ratio of 30.56, a P/E/G ratio of 1.64 and a beta of 1.26.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. As a group, research analysts predict that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.41%.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.