Members Trust Co Has $1.11 Million Stake in Alphabet Inc. $GOOG

Key Points

• Members Trust Co increased its stake in Alphabet Inc. by 25.2% in Q2, bringing its total ownership to 6,258 shares valued at approximately $1.11 million.
• Several analysts have set a new target price for Alphabet, with the highest being $285.00 from Jefferies Financial Group, while the stock currently holds a rating of "Moderate Buy".
• Insider trading activity included significant sales by CAO Amie Thuener O'toole and insider John Kent Walker, totaling approximately $5.3 million in shares sold over the last three months.

Members Trust Co grew its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 25.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,258 shares of the information services provider's stock after buying an additional 1,259 shares during the quarter. Members Trust Co's holdings in Alphabet were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at about $26,000. IFS Advisors LLC lifted its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its holdings in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Fairman Group LLC lifted its holdings in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock worth $31,000 after purchasing an additional 97 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOG shares. Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group set a $255.00 target price on Alphabet and gave the stock a "neutral" rating in a report on Thursday, October 9th. Jefferies Financial Group boosted their target price on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. TD Cowen boosted their target price on Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Robert W. Baird boosted their target price on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $249.68.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $260.51 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $237.33 and its two-hundred day moving average is $196.32. The company has a market cap of $3.15 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $262.51.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last three months. Company insiders own 12.99% of the company's stock.

Alphabet Company Profile

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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