Matrix Asset Advisors Inc. NY Sells 146 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 26th, 2023

Matrix Asset Advisors Inc. NY decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,470 shares of the information services provider’s stock after selling 146 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in Alphabet were worth $256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. DC Investments Management LLC acquired a new position in shares of Alphabet during the 1st quarter valued at $114,000. Bridgefront Capital LLC acquired a new position in Alphabet during the 1st quarter worth approximately $225,000. Worth Asset Management LLC bought a new position in Alphabet in the first quarter worth approximately $206,000. Eudaimonia Advisors LLC increased 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 acquiring an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in shares of Alphabet during the first quarter worth approximately $281,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Alphabet Stock Down 0.7 %

Shares of NASDAQ:GOOGL opened at $122.34 on Monday. The firm has a fifty day moving average price of $116.68 and a two-hundred day moving average price of $103.21. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same quarter last year, the company earned $1.23 earnings per share. Analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the sale, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the sale, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 29,006 shares of the company’s 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 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 90 days, insiders sold 854,930 shares of company stock valued at $29,996,488. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on GOOGL shares. Raymond James boosted their price target on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Stifel Nicolaus initiated coverage on Alphabet in a research note on Monday, March 20th. They set a “buy” rating and a $130.00 price target for the company. Jefferies Financial Group raised their target price on Alphabet from $130.00 to $150.00 in a report on Tuesday, May 23rd. Wells Fargo & Company started coverage on shares of Alphabet in a report on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 price objective on the stock. Finally, Oppenheimer boosted their price target on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Five research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Alphabet Profile

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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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.