Mogy Joel R Investment Counsel Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 308,812 shares of the information services provider's stock after acquiring an additional 2,674 shares during the period. Alphabet accounts for approximately 3.1% of Mogy Joel R Investment Counsel Inc.'s portfolio, making the stock its 12th biggest position. Mogy Joel R Investment Counsel Inc.'s holdings in Alphabet were worth $47,755,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Accordant Advisory Group Inc acquired a new stake in Alphabet in the first quarter valued at approximately $193,000. West Oak Capital LLC boosted its holdings in shares of Alphabet by 4.2% in the first quarter. West Oak Capital LLC now owns 3,235 shares of the information services provider's stock valued at $500,000 after acquiring an additional 130 shares in the last quarter. FMB Wealth Management grew its holdings in Alphabet by 3.5% during the first quarter. FMB Wealth Management now owns 3,917 shares of the information services provider's stock worth $606,000 after acquiring an additional 134 shares during the period. Yarger Wealth Strategies LLC boosted its holdings in Alphabet by 5.7% during the first quarter. Yarger Wealth Strategies LLC now owns 1,716 shares of the information services provider's stock worth $265,000 after buying an additional 93 shares in the last quarter. Finally, Davis Investment Partners LLC raised its holdings in Alphabet by 57.7% during the first quarter. Davis Investment Partners LLC now owns 1,832 shares of the information services provider's stock worth $291,000 after purchasing an additional 670 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analyst Weigh In
GOOGL has been the subject of several recent research reports. Mizuho dropped their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Morgan Stanley decreased their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company lifted their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Finally, KeyCorp boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $199.75.
View Our Latest Report on Alphabet
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,570 shares of company stock worth $32,003,532. Insiders own 11.64% of the company's stock.
Alphabet Stock Performance
Alphabet stock traded up $1.03 on Monday, hitting $175.70. The company's stock had a trading volume of 15,037,226 shares, compared to its average volume of 35,530,906. The company has a fifty day moving average price of $162.89 and a 200-day moving average price of $174.68. The firm has a market cap of $2.13 trillion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly 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. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's dividend payout ratio is currently 9.36%.
Alphabet Profile
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Free Report)
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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