Wed Sep 25 08:42:53 UTC 2024: ## STAR Financial Bank Cuts Alphabet Stake, While Other Investors Adjust Holdings

**[City, State] -** STAR Financial Bank trimmed its stake in Alphabet Inc. (GOOGL) by 14.1% during the second quarter, according to its recent SEC filing. The bank now owns 10,130 shares of the tech giant, worth approximately $1,845,000. This move comes amidst a flurry of activity from other large investors who have either added to or reduced their positions in Alphabet.

Notably, Nebula Research & Development LLC, New Hampshire Trust, Berkshire Money Management Inc., Schneider Downs Wealth Management Advisors LP, and Johnson Financial Group Inc. all adjusted their holdings in Alphabet during recent quarters. Overall, institutional investors currently hold 40.03% of Alphabet’s stock.

Analysts remain largely optimistic about Alphabet’s future. Loop Capital maintained a “hold” rating with a $170.00 target price, while Wolfe Research initiated coverage with an “outperform” rating and a $240.00 target price. Needham & Company LLC and Cantor Fitzgerald also issued “buy” and “neutral” ratings, respectively. Citigroup upgraded its price objective from $190.00 to $212.00 and maintained a “buy” rating. Based on a consensus of eight “hold,” twenty-eight “buy,” and two “strong buy” ratings, MarketBeat.com currently rates GOOGL as a “Moderate Buy” with an average price target of $201.08.

Meanwhile, several Alphabet executives, including CAO Amie Thuener O’toole and SVP Prabhakar Raghavan, recently sold shares of the company. In total, insiders have sold 180,867 shares worth $29,878,106 over the past 90 days, representing 11.55% of the company’s stock.

Alphabet’s stock opened at $162.29 on Wednesday. The company boasts a strong financial profile, evidenced by its impressive quick ratio (2.08), current ratio (2.08), and low debt-to-equity ratio (0.04). Despite recent insider sales, analysts remain optimistic about Alphabet’s future, with a consensus price target of $201.08.

Read More