Alphabet Inc (NASDAQ:GOOGL) Position Increased by First Merchants Corp

First Merchants Corp lifted its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 288.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,808 shares of the information services provider’s stock after acquiring an additional 1,343 shares during the quarter. First Merchants Corp’s holdings in Alphabet were worth $1,760,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Koch Industries Inc. increased its position in Alphabet by 181,219.4% in the 2nd 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 in the last quarter. Harbour Capital Advisors LLC increased its position in Alphabet by 65,026.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock valued at $800,000 after buying an additional 742,602 shares in the last quarter. Vanguard Group Inc. increased its position in Alphabet by 3.3% in the 2nd 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 in the last quarter. BlackRock Inc. increased its position in Alphabet by 3.1% in the 2nd 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 in the last quarter. Finally, FMR LLC increased its position in Alphabet by 2.1% in the 2nd 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 in the last quarter. 33.57% of the stock is currently owned by hedge funds and other institutional investors.

GOOGL has been the topic of several research analyst reports. Citigroup reissued a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a report on Wednesday, September 20th. Susquehanna Bancshares reissued a “positive” rating and set a $1,200.00 target price on shares of Alphabet in a report on Thursday, September 21st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Thursday, September 21st. SunTrust Banks reaffirmed a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Saturday, September 23rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Saturday, September 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,098.90.

Alphabet Inc (NASDAQ GOOGL) opened at $1,130.70 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The firm has a market cap of $782,680.00, a price-to-earnings ratio of 37.66, a P/E/G ratio of 1.48 and a beta of 0.90. Alphabet Inc has a one year low of $812.05 and a one year high of $1,148.88.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company had revenue of $22.27 billion for the quarter, compared to the consensus estimate of $21.94 billion. During the same period in the previous year, the firm posted $9.06 EPS. research analysts expect that Alphabet Inc will post 32.36 earnings per share for the current year.

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Alphabet Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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