Indiana Trust & Investment Management Co Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Indiana Trust & Investment Management Co lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,539 shares of the information services provider’s stock after buying an additional 107 shares during the period. Alphabet comprises about 2.9% of Indiana Trust & Investment Management Co’s holdings, making the stock its 5th largest position. Indiana Trust & Investment Management Co’s holdings in Alphabet were worth $8,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. New Hampshire Trust boosted its stake in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. purchased a new position in Alphabet in the first quarter worth $359,000. Schneider Downs Wealth Management Advisors LP grew its stake in Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares during the period. Trinity Financial Advisors LLC increased its position in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. raised its stake in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $165.27 on Friday. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.21 and a beta of 1.04. The business has a 50 day moving average of $161.90 and a 200 day moving average of $168.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the business posted $1.44 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GOOGL. BMO Capital Markets decreased their price objective on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Roth Mkm reaffirmed a “buy” rating and issued a $206.00 price target on shares of Alphabet in a report on Thursday, August 29th. Guggenheim increased their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Argus increased their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $201.76.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 over the last three months. Insiders own 11.55% of the company’s stock.

About Alphabet

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.