Members Trust Co Sells 261 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Members Trust Co decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,630 shares of the information services provider’s stock after selling 261 shares during the period. Members Trust Co’s holdings in Alphabet were worth $661,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in Alphabet in the fourth quarter valued at approximately $1,328,000. JFG Wealth Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at $272,000. Fisher Asset Management LLC increased its holdings in Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after buying an additional 1,472,043 shares during the last quarter. Coombe Bender & Co LLC raised its position in Alphabet by 12.1% during the fourth quarter. Coombe Bender & Co LLC now owns 1,855 shares of the information services provider’s stock worth $259,000 after acquiring an additional 200 shares in the last quarter. Finally, West Family Investments Inc. lifted its stake in Alphabet by 1.0% in the fourth quarter. West Family Investments Inc. now owns 28,318 shares of the information services provider’s stock valued at $3,956,000 after acquiring an additional 282 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,032 shares of company stock valued at $29,854,224. 11.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOGL shares. Truist Financial boosted their price objective on shares of Alphabet from $190.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Jefferies Financial Group boosted their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Cantor Fitzgerald started coverage on Alphabet in a report on Thursday. They set a “neutral” rating and a $190.00 price target for the company. Guggenheim lifted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, UBS Group increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $202.81.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $150.92 on Friday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s 50 day simple moving average is $170.86 and its 200 day simple moving average is $164.30.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the company posted $1.44 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

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.