Indiana Trust & Investment Management CO lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,167 shares of the information services provider’s stock after selling 9 shares during the quarter. Alphabet comprises about 1.9% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 11th largest holding. Indiana Trust & Investment Management CO’s holdings in Alphabet were worth $3,073,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Stephenson National Bank & Trust acquired a new stake in Alphabet in the 4th quarter worth about $27,000. Cox Capital Mgt LLC bought a new position in Alphabet in the 1st quarter valued at about $27,000. HighMark Wealth Management LLC bought a new position in Alphabet in the 4th quarter valued at about $34,000. Spence Asset Management increased its holdings in Alphabet by 45.5% in the 1st quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock valued at $37,000 after buying an additional 10 shares during the period. Finally, Advocacy Wealth Management Services LLC increased its holdings in Alphabet by 54.5% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 34 shares of the information services provider’s stock valued at $37,000 after buying an additional 12 shares during the period. Institutional investors own 34.14% of the company’s stock.

NASDAQ:GOOGL traded down $14.36 during mid-day trading on Tuesday, hitting $1,497.87. The company had a trading volume of 478,740 shares, compared to its average volume of 1,953,015. The business has a fifty day simple moving average of $1,442.26 and a 200-day simple moving average of $1,362.06. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08. Alphabet Inc has a 1 year low of $1,008.87 and a 1 year high of $1,576.36. The firm has a market capitalization of $1,032.28 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 2.31 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the consensus estimate of $11.16 by ($1.29). The business had revenue of $33.71 billion for the quarter, compared to analyst estimates of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same quarter in the prior year, the business earned $9.50 earnings per share. As a group, research analysts anticipate that Alphabet Inc will post 41.51 earnings per share for the current year.

Several equities analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Nomura lifted their price target on shares of Alphabet from $1,680.00 to $1,700.00 in a report on Wednesday, April 29th. Tigress Financial reissued a “buy” rating on shares of Alphabet in a report on Monday, March 23rd. Nomura Instinet boosted their price target on shares of Alphabet from $1,680.00 to $1,700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Goldman Sachs Group boosted their price target on shares of Alphabet from $1,425.00 to $1,775.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,555.61.

About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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