Cutler Investment Counsel LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Apr 10th, 2023

Cutler Investment Counsel LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,420 shares of the information services provider’s stock after selling 200 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Alphabet were worth $658,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GOOG. OLD Second National Bank of Aurora increased its position in Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares during the last quarter. Westchester Capital Management Inc. boosted its stake in shares of Alphabet by 1,900.0% during the 3rd 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 period. Carolina Wealth Advisors LLC grew its holdings in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Saban Cheryl raised its position in Alphabet by 1,900.0% in the 3rd 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 period. Finally, Gould Capital LLC lifted its stake in Alphabet by 2,150.0% in the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after purchasing an additional 301 shares during the last quarter. Institutional investors own 28.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GOOG shares. Jefferies Financial Group set a $125.00 target price on Alphabet in a research note on Friday, February 3rd. The Goldman Sachs Group set a $128.00 price objective on Alphabet in a research report on Friday, February 3rd. UBS Group lifted their target price on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday. Cowen cut their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Finally, JPMorgan Chase & Co. set a $118.00 price objective on shares of Alphabet in a report on Thursday, February 9th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Alphabet Trading Up 3.8 %

GOOG opened at $108.90 on Monday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.39 trillion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.51 and a beta of 1.10. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $137.70. The stock has a fifty day moving average price of $98.63 and a 200-day moving average price of $96.40.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm 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 for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.53 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction dated 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 in the company, valued at $4,197,000. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock worth $11,373,417 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

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.