Mogy Joel R Investment Counsel Inc. Sells 8,480 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mogy Joel R Investment Counsel Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 358,900 shares of the information services provider’s stock after selling 8,480 shares during the period. Alphabet accounts for 3.8% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Alphabet were worth $50,580,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $28,000. Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,439 shares of company stock valued at $36,746,578. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on GOOG shares. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Trading Up 10.0 %

Shares of Alphabet stock opened at $173.69 on Monday. Alphabet Inc. has a 1 year low of $104.42 and a 1 year high of $176.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The company has a market capitalization of $2.16 trillion, a P/E ratio of 26.64, a PEG ratio of 1.59 and a beta of 1.05. The company’s fifty day moving average is $149.12 and its two-hundred day moving average is $142.78.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the firm posted $1.17 EPS. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 6.8 earnings per share for the current year.

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.