1ST Source Bank Sells 1,860 Shares of Alphabet Inc. $GOOG

1ST Source Bank lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 51,150 shares of the information services provider’s stock after selling 1,860 shares during the period. Alphabet comprises about 0.8% of 1ST Source Bank’s investment portfolio, making the stock its 20th largest position. 1ST Source Bank’s holdings in Alphabet were worth $16,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after purchasing an additional 7,904,434 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Alphabet by 5.8% in the 3rd quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock valued at $9,749,864,000 after purchasing an additional 2,209,203 shares during the period. Legal & General Group Plc lifted its stake in shares of Alphabet by 0.7% in the 3rd quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider’s stock valued at $7,935,671,000 after purchasing an additional 223,743 shares during the period. Finally, Capital World Investors lifted its stake in shares of Alphabet by 1.9% in the 3rd quarter. Capital World Investors now owns 28,625,464 shares of the information services provider’s stock valued at $6,971,769,000 after purchasing an additional 539,679 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOOG shares. Truist Financial set a $385.00 price objective on Alphabet in a research note on Wednesday, April 22nd. Oppenheimer boosted their price objective on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. The Goldman Sachs Group reissued a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a research note on Thursday. Wells Fargo & Company raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $400.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $372.65.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 8,993 shares of the stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares of the company’s stock, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 226,481 shares of company stock worth $27,422,061 in the last quarter. Company insiders own 12.99% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Recent commentary says Alphabet was one of the biggest winners among the Mag 7 this earnings season, helped by accelerating Google Cloud sales and broader AI-driven strength. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Analysts highlighted Alphabet’s new AI ad formats and shopping tools as potential catalysts for stronger search monetization, higher conversion rates, and increased ad spending. Alphabet’s new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Alphabet also announced a large $15 billion data center and AI infrastructure investment in Missouri, reinforcing investor confidence in its cloud and AI buildout. Google Deepens Missouri Roots with New Data Center, Energy, and Community Investments
• Neutral Sentiment: Google unveiled new AI search and agent features at I/O, which could improve engagement over time, but the rollout also raised concerns about complexity and possible disruption to the traditional search experience. You can no longer Google the word ‘disregard’
• Neutral Sentiment: Waymo temporarily paused some robotaxi and freeway services after safety issues in flooded roads and construction zones; while this is not core to Alphabet’s profits, it adds execution risk and negative headlines. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Alphabet has appealed the U.S. search-monopoly ruling, keeping antitrust overhang and potential remedies in focus for investors. Google appeals US court ruling on search monopoly

Alphabet Price Performance

GOOG stock opened at $379.38 on Monday. The stock’s 50 day simple moving average is $335.54 and its 200 day simple moving average is $321.07. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47. 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 company has a market cap of $4.60 trillion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same period in the prior year, the business earned $2.81 EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. 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%. Alphabet’s dividend payout ratio (DPR) is currently 6.41%.

Alphabet Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.