Alphabet Inc. $GOOGL Shares Purchased by Mogy Joel R Investment Counsel Inc.

Key Points

• Mogy Joel R Investment Counsel Inc. increased its holdings in Alphabet Inc. by 0.6%, bringing its total shares to 310,799, valued at approximately $54.77 million, which makes it Alphabet's 12th largest position in their portfolio.
• Alphabet recently reported $2.31 EPS for the quarter, exceeding analysts' expectations and achieving a net margin of 31.12% with substantial revenue of $96.43 billion.
• Numerous analysts have varying ratings on Alphabet, with a consensus rating of "Moderate Buy" and an average price target of $225.54, as three analysts rate it a "Strong Buy" while over thirty rate it a "Buy".

Mogy Joel R Investment Counsel Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 310,799 shares of the information services provider's stock after purchasing an additional 1,987 shares during the quarter. Alphabet comprises 3.2% of Mogy Joel R Investment Counsel Inc.'s portfolio, making the stock its 12th largest position. Mogy Joel R Investment Counsel Inc.'s holdings in Alphabet were worth $54,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC purchased a new position in shares of Alphabet in the first quarter worth $4,317,606,000. GAMMA Investing LLC raised its position in Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Vanguard Group Inc. lifted its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after acquiring an additional 7,774,811 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Alphabet in the fourth quarter worth approximately $1,375,509,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Susquehanna raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $231.31.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded down $2.19 during trading on Monday, hitting $252.53. The stock had a trading volume of 32,240,768 shares, compared to its average volume of 36,834,965. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The stock has a 50-day simple moving average of $209.36 and a two-hundred day simple moving average of $180.41. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the company'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 completion of the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 258,088 shares of company stock valued at $52,405,304. 11.55% of the stock is currently owned by company insiders.

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.