Mogy Joel R Investment Counsel Inc. Sells 7,290 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mogy Joel R Investment Counsel Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 341,799 shares of the information services provider's stock after selling 7,290 shares during the quarter. Alphabet comprises about 3.4% of Mogy Joel R Investment Counsel Inc.'s portfolio, making the stock its 9th largest position. Mogy Joel R Investment Counsel Inc.'s holdings in Alphabet were worth $53,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sterling Financial Group Inc. lifted its holdings in shares of Alphabet by 5.2% in the 1st quarter. Sterling Financial Group Inc. now owns 2,447 shares of the information services provider's stock valued at $382,000 after buying an additional 120 shares during the period. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Alphabet by 2.6% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 81,458 shares of the information services provider's stock valued at $12,726,000 after buying an additional 2,055 shares during the period. Defined Financial Planning LLC lifted its holdings in shares of Alphabet by 12.7% in the 1st quarter. Defined Financial Planning LLC now owns 2,143 shares of the information services provider's stock valued at $340,000 after buying an additional 242 shares during the period. Yarger Wealth Strategies LLC lifted its holdings in shares of Alphabet by 2.3% in the 1st quarter. Yarger Wealth Strategies LLC now owns 6,548 shares of the information services provider's stock valued at $1,023,000 after buying an additional 147 shares during the period. Finally, Net Worth Advisory Group lifted its holdings in shares of Alphabet by 1.3% in the 1st quarter. Net Worth Advisory Group now owns 13,943 shares of the information services provider's stock valued at $2,178,000 after buying an additional 174 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.6%

NASDAQ:GOOG traded down $1.09 during trading hours on Friday, hitting $175.88. The company had a trading volume of 20,848,122 shares, compared to its average volume of 20,479,058. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $164.57 and a 200 day moving average of $176.30. The company has a market cap of $2.13 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's dividend payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOOG shares. Oppenheimer boosted their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. UBS Group decreased their price objective on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Finally, Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.88.

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.