Matrix Asset Advisors Inc. NY Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Matrix Asset Advisors Inc. NY increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,891.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,095 shares of the information services provider’s stock after buying an additional 161,555 shares during the period. Alphabet comprises approximately 2.7% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 14th largest holding. Matrix Asset Advisors Inc. NY’s holdings in Alphabet were worth $16,355,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Totem Point Management LLC grew its stake in Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after purchasing an additional 571 shares during the last quarter. Somerville Kurt F grew its stake in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the last quarter. BCK Partners Inc. purchased a new position in Alphabet in the first quarter valued at about $2,564,000. Hall Capital Management Co. Inc. grew its stake in Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. grew its stake in Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Stock Down 0.4 %

Shares of GOOG stock opened at $91.91 on Friday. The stock has a market cap of $1.19 trillion, a P/E ratio of 18.25, a P/E/G ratio of 1.54 and a beta of 1.08. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The stock has a 50 day moving average of $93.11 and a 200 day moving average of $102.96. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The business had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Activity

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The shares were purchased at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Piper Sandler cut their target price on Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Sanford C. Bernstein set a $120.00 price target on Alphabet in a report on Thursday. Societe Generale lowered their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. The Goldman Sachs Group set a $135.00 price target on Alphabet in a report on Friday, November 18th. Finally, Cowen lowered their price target on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.88.

Alphabet Company Profile

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.