Matthew Goff Investment Advisor LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 28th, 2023

Matthew Goff Investment Advisor LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,300 shares of the information services provider’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bornite Capital Management LP bought a new position in shares of Alphabet in the first quarter valued at about $16,688,000. Markel Corp raised its holdings in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares during the last quarter. United Bank raised its holdings in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction on Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet 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 sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Insiders sold 825,924 shares of company stock valued at $27,042,517 in the last quarter. 0.88% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $118.33 on Wednesday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $129.04. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $117.21 and a 200 day simple moving average of $103.56. The stock has a market capitalization of $1.50 trillion, a PE ratio of 26.35, a P/E/G ratio of 1.56 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results 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 business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter last year, the firm posted $1.23 EPS. On average, research analysts expect that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOGL shares. Stifel Nicolaus assumed coverage on Alphabet in a report on Monday, March 20th. They issued a “buy” rating and a $130.00 price target for the company. Piper Sandler boosted their price objective on Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Needham & Company LLC reissued a “buy” rating and set a $115.00 price objective on shares of Alphabet in a report on Monday, April 3rd. JMP Securities reissued a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. Finally, Sanford C. Bernstein cut Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 price objective for the company. in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $129.90.

Alphabet Company 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.