Horizon Bancorp Inc. IN Has $880,000 Holdings in Alphabet Inc. $GOOGL

Horizon Bancorp Inc. IN raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 110.5% in the second quarter, Holdings Channel reports. The fund 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 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GOOGL. Mystic Asset Management Inc. increased its holdings in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co boosted its position in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after buying an additional 80 shares during the period. Cypress Capital LLC grew its holdings in shares of Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after buying an additional 563 shares in the last quarter. Bridgeway Capital Management LLC raised its position in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC raised its position in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $253.30 on Monday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.96. The firm has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 1.71 and a beta of 1.00. The stock’s 50 day moving average price is $231.55 and its two-hundred day moving average price is $192.14. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GOOGL shares. Jefferies Financial Group upped their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. DA Davidson upped their target price on Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. JMP Securities increased their price target on Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research report on Friday, September 19th. Rosenblatt Securities boosted their price target on Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Finally, Westpark Capital upped their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $252.24.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% 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 owned by insiders.

Alphabet 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.