1ST Source Bank Decreases Position in Alphabet Inc (NASDAQ:GOOGL)

1ST Source Bank lowered its position in Alphabet Inc (NASDAQ:GOOGL) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,485 shares of the information services provider’s stock after selling 140 shares during the quarter. Alphabet makes up approximately 0.8% of 1ST Source Bank’s portfolio, making the stock its 24th biggest position. 1ST Source Bank’s holdings in Alphabet were worth $7,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Larson Financial Group LLC increased its holdings in shares of Alphabet by 5.1% in the fourth quarter. Larson Financial Group LLC now owns 145 shares of the information services provider’s stock valued at $194,000 after purchasing an additional 7 shares during the period. GenTrust LLC increased its holdings in shares of Alphabet by 3.6% in the fourth quarter. GenTrust LLC now owns 204 shares of the information services provider’s stock valued at $273,000 after purchasing an additional 7 shares during the period. Round Table Services LLC increased its holdings in shares of Alphabet by 0.9% in the fourth quarter. Round Table Services LLC now owns 799 shares of the information services provider’s stock valued at $1,070,000 after purchasing an additional 7 shares during the period. Trust Co. of Oklahoma increased its holdings in shares of Alphabet by 0.3% in the fourth quarter. Trust Co. of Oklahoma now owns 2,621 shares of the information services provider’s stock valued at $3,511,000 after purchasing an additional 7 shares during the period. Finally, Capital Financial Planning LLC increased its holdings in shares of Alphabet by 2.2% in the fourth quarter. Capital Financial Planning LLC now owns 319 shares of the information services provider’s stock valued at $427,000 after purchasing an additional 7 shares during the period. Institutional investors own 35.07% of the company’s stock.

NASDAQ GOOGL opened at $1,317.32 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.35 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $1,185.79 and its two-hundred day moving average is $1,318.66. The company has a market capitalization of $925.57 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.04 and a beta of 1.06. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,530.74.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). The company 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 17.59%. During the same period in the previous year, the firm posted $9.50 earnings per share. On average, analysts predict that Alphabet Inc will post 41.47 earnings per share for the current year.

A number of research analysts recently weighed in on the company. JMP Securities upped their price objective on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Wednesday. Pivotal Research dropped their price objective on Alphabet from $1,700.00 to $1,425.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Stifel Nicolaus upped their price objective on Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho upped their price objective on Alphabet from $1,500.00 to $1,560.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Loop Capital upped their price objective on Alphabet from $1,320.00 to $1,400.00 in a report on Thursday, April 9th. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $1,505.23.

Alphabet Company Profile

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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