Matisse Capital Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Apr 1st, 2023

Matisse Capital decreased its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,560 shares of the information services provider’s stock after selling 600 shares during the quarter. Matisse Capital’s holdings in Alphabet were worth $932,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. DC Investments Management LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC grew its holdings in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $281,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 29,006 shares of the stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the completion of the sale, the insider now directly owns 24,277 shares in the company, valued at $2,472,369.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 29,006 shares of the stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the transaction, the insider now owns 24,277 shares of the company’s stock, valued at $2,472,369.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,871 shares of company stock valued at $10,094,138. 11.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GOOGL shares. Wells Fargo & Company increased their price target on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Morgan Stanley lifted their price target on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Rosenblatt Securities decreased their price objective on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Jefferies Financial Group restated a “buy” rating and set a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. Finally, Evercore ISI reduced their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Four analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $131.39.

Alphabet Trading Up 2.8 %

NASDAQ:GOOGL opened at $103.73 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79. The business’s 50-day moving average price is $97.34 and its two-hundred day moving average price is $95.86. 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 capitalization of $1.33 trillion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.40 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same period in the previous year, the company posted $1.53 EPS. On average, equities analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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