McKinley Carter Wealth Services Inc. Purchases 2,479 Shares of Alphabet Inc. $GOOGL

Key Points

• McKinley Carter Wealth Services Inc. increased its holdings in Alphabet Inc. by 3.2%, acquiring an additional 2,479 shares to reach a total of 80,297 shares valued at $14.15 million.
• Alphabet reported $2.31 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $2.15, with revenues of $96.43 billion surpassing the consensus estimate of $93.60 billion.
• The stock currently has a market cap of $3.06 trillion and a consensus rating of "Moderate Buy," with an average price target of $252.24 based on recent analyst reports.

McKinley Carter Wealth Services Inc. grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,297 shares of the information services provider's stock after purchasing an additional 2,479 shares during the period. McKinley Carter Wealth Services Inc.'s holdings in Alphabet were worth $14,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Coordinated Financial Services Inc. bought a new stake in shares of Alphabet in the 2nd quarter valued at $412,000. Stonebridge Financial Group LLC lifted its holdings in Alphabet by 5.5% during the second quarter. Stonebridge Financial Group LLC now owns 39,601 shares of the information services provider's stock worth $6,979,000 after acquiring an additional 2,060 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in Alphabet by 110.5% in the second quarter. Horizon Bancorp Inc. IN now owns 4,994 shares of the information services provider's stock valued at $880,000 after acquiring an additional 2,621 shares during the period. Financial Security Advisor Inc. increased its holdings in shares of Alphabet by 5.9% in the second quarter. Financial Security Advisor Inc. now owns 44,696 shares of the information services provider's stock worth $7,877,000 after acquiring an additional 2,473 shares in the last quarter. Finally, Trevian Wealth Management LLC raised its position in shares of Alphabet by 9.8% during the second quarter. Trevian Wealth Management LLC now owns 4,219 shares of the information services provider's stock worth $744,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Up 0.7%

Alphabet stock opened at $253.30 on Monday. The company has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 1.71 and a beta of 1.00. The firm has a 50-day moving average of $231.55 and a 200-day moving average of $192.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.96.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Robert W. Baird boosted their price objective on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Citizens Jmp upped their price target on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Wells Fargo & Company set a $236.00 price objective on shares of Alphabet and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. Royal Bank Of Canada raised their price objective on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Finally, Needham & Company LLC upped their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $252.24.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 103 shares of the business's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. 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.

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