Indiana Trust & Investment Management CO lowered its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 7.7% during the third quarter, Holdings Channel reports. The fund owned 2,404 shares of the information services provider’s stock after selling 200 shares during the quarter. Alphabet comprises 1.6% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 12th biggest holding. Indiana Trust & Investment Management CO’s holdings in Alphabet were worth $2,935,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Belvedere Advisors LLC purchased a new position in Alphabet during the first quarter worth about $38,000. Litman Gregory Asset Management LLC purchased a new position in shares of Alphabet in the 2nd quarter worth about $37,000. Thor Advisors LLC purchased a new position in shares of Alphabet in the 1st quarter worth about $45,000. Lipe & Dalton purchased a new position in shares of Alphabet in the 2nd quarter worth about $49,000. Finally, Johnson Financial Group Inc. raised its holdings in shares of Alphabet by 26.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after purchasing an additional 10 shares during the period. 33.50% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ GOOGL traded up $12.74 during mid-day trading on Friday, reaching $1,202.17. 119,129 shares of the company’s stock traded hands, compared to its average volume of 1,313,036. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The company has a fifty day simple moving average of $1,202.31 and a 200-day simple moving average of $1,174.01. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The company has a market cap of $824.75 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 1.34 and a beta of 0.99.
A number of equities analysts have recently commented on the company. Stifel Nicolaus restated a “hold” rating and issued a $1,287.00 price objective on shares of Alphabet in a report on Tuesday, July 23rd. Morgan Stanley raised their price objective on Alphabet from $1,400.00 to $1,450.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. FBN Securities set a $1,400.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Mizuho raised their price objective on Alphabet from $1,350.00 to $1,400.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, BMO Capital Markets raised their price objective on Alphabet to $1,225.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $1,375.78.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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