1,478 Shares in Alphabet Inc. $GOOGL Purchased by Mattern Capital Management LLC

Mattern Capital Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,478 shares of the information services provider's stock, valued at approximately $260,000.

A number of other hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of analyst reports. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an "outperform" rating in a research note on Thursday. Piper Sandler lifted their target price on Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. Wells Fargo & Company set a $236.00 target price on Alphabet and gave the stock an "equal weight" rating in a research note on Tuesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research note on Wednesday. Finally, Morgan Stanley set a $270.00 target price on Alphabet and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. Five research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $244.62.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $241.53 on Friday. The stock has a market cap of $2.92 trillion, a P/E ratio of 25.72, a PEG ratio of 1.65 and a beta of 1.00. The stock has a 50 day simple moving average of $225.37 and a 200 day simple moving average of $188.04. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company's stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 in the last 90 days. Company insiders own 11.64% of the company's stock.

Alphabet Company Profile

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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