Indiana Trust & Investment Management CO raised its stake in Alphabet Inc (NASDAQ:GOOGL) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,022 shares of the information services provider’s stock after acquiring an additional 84 shares during the quarter. Alphabet makes up approximately 1.5% of Indiana Trust & Investment Management CO’s investment portfolio, making the stock its 13th largest position. Indiana Trust & Investment Management CO’s holdings in Alphabet were worth $3,183,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of GOOGL. Koch Industries Inc. increased its stake in shares of Alphabet by 181,219.4% in the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock valued at $1,085,000 after buying an additional 1,085,504 shares during the period. Vanguard Group Inc. increased its stake in shares of Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after buying an additional 662,279 shares during the period. BlackRock Inc. increased its stake in shares of Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after buying an additional 567,337 shares during the period. FMR LLC increased its stake in shares of Alphabet by 2.1% in the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after buying an additional 367,634 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in shares of Alphabet by 68.2% in the third quarter. State of Wisconsin Investment Board now owns 708,458 shares of the information services provider’s stock valued at $689,840,000 after buying an additional 287,287 shares during the period. 34.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Alphabet Inc (NASDAQ GOOGL) opened at $1,165.93 on Tuesday. The company has a market cap of $806,531.88, a P/E ratio of 64.92, a PEG ratio of 1.20 and a beta of 0.99. Alphabet Inc has a 52-week low of $824.30 and a 52-week high of $1,198.00. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.
Alphabet declared that its Board of Directors has initiated a share repurchase program on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
GOOGL has been the subject of several recent research reports. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price objective for the company in a research note on Tuesday, December 26th. SunTrust Banks lowered their price objective on Alphabet from $1,250.00 to $1,180.00 in a research note on Monday, January 15th. Monness Crespi & Hardt reissued a “buy” rating and set a $1,250.00 target price (up previously from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Cowen increased their target price on shares of Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Finally, Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 target price for the company in a research report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,167.67.
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Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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