Missouri Trust & Investment Co Buys 3,771 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Feb 26th, 2023

Missouri Trust & Investment Co lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,577.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,010 shares of the information services provider’s stock after purchasing an additional 3,771 shares during the quarter. Missouri Trust & Investment Co’s holdings in Alphabet were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GOOG. OLD Second National Bank of Aurora raised its stake in shares of Alphabet by 1,900.0% in the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the last quarter. Westchester Capital Management Inc. raised its stake in shares of Alphabet by 1,900.0% in the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC raised its stake in shares of Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the last quarter. Saban Cheryl raised its stake in shares of Alphabet by 1,900.0% in the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after purchasing an additional 190 shares during the last quarter. Finally, NewSquare Capital LLC raised its stake in shares of Alphabet by 1,900.0% in the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after purchasing an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 11,313 shares of the stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The disclosure for this sale can be found here. Insiders sold a total of 36,583 shares of company stock valued at $3,418,900 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GOOG shares. Piper Sandler reduced their price objective on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. Royal Bank of Canada set a $130.00 price objective on Alphabet in a research report on Friday, February 3rd. Credit Suisse Group set a $136.00 price objective on Alphabet in a research report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price objective on Alphabet in a research report on Thursday, February 9th. Finally, The Goldman Sachs Group set a $128.00 price objective on Alphabet in a research report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.13.

Alphabet Stock Performance

NASDAQ GOOG opened at $89.35 on Friday. The firm has a market cap of $1.14 trillion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.26 and a beta of 1.08. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $94.09 and a 200-day moving average price of $99.18. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $144.16.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $1.53 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.