Matrix Asset Advisors Inc. NY lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 162,225 shares of the information services provider's stock after selling 1,650 shares during the period. Alphabet accounts for 3.4% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 8th largest position. Matrix Asset Advisors Inc. NY's holdings in Alphabet were worth $30,894,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. FMR LLC grew its position in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. Geode Capital Management LLC increased its position in shares of Alphabet by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock worth $17,247,208,000 after purchasing an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock valued at $5,573,125,000 after buying an additional 3,113,395 shares during the period. Jennison Associates LLC lifted its position in Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock valued at $2,578,793,000 after buying an additional 1,291,274 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock worth $1,843,149,000 after buying an additional 264,962 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 2,834 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares of the company's stock, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,630 shares of company stock valued at $22,258,133 over the last three months. 12.99% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
GOOG has been the topic of several recent analyst reports. Citizens Jmp lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Scotiabank raised their price target on Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Friday, January 24th. Citigroup boosted their price objective on Alphabet from $212.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Finally, Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $206.69.
Check Out Our Latest Analysis on Alphabet
Alphabet Stock Up 1.5 %
NASDAQ:GOOG traded up $2.97 during trading hours on Friday, hitting $205.60. The company's stock had a trading volume of 17,059,516 shares, compared to its average volume of 16,222,196. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $207.08. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.52 trillion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The stock has a fifty day moving average of $189.70 and a 200-day moving average of $175.54.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $86.39 billion. During the same period in the prior year, the firm posted $1.55 EPS. The business's quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.
About Alphabet
(
Free Report)
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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