Alphabet Inc. $GOOG Holdings Raised by Mattson Financial Services LLC

Key Points

• Mattson Financial Services LLC increased its stake in Alphabet Inc. by 2.7% in Q2, owning 47,198 shares valued at $8.37 million, making Alphabet its 7th largest holding.
• CEO Sundar Pichai sold 32,500 shares at around $249.50 per share, reducing his holdings by 1.34% to approximately 2.4 million shares.
• Alphabet reported strong quarterly earnings, with an EPS of $2.31, surpassing estimates, and revenue of $96.43 billion, marking a year-over-year growth of 13.8%.

Mattson Financial Services LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 47,198 shares of the information services provider's stock after acquiring an additional 1,251 shares during the period. Alphabet comprises 2.3% of Mattson Financial Services LLC's investment portfolio, making the stock its 7th biggest holding. Mattson Financial Services LLC's holdings in Alphabet were worth $8,372,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the 1st quarter worth approximately $26,000. IFS Advisors LLC increased its stake in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after buying an additional 120 shares during the period. Robbins Farley increased its stake in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC increased its stake in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after buying an additional 61 shares during the period. Finally, Fairman Group LLC increased its stake in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock worth $31,000 after buying an additional 97 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,372 shares of company stock worth $55,110,740. Corporate insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.8%

NASDAQ GOOG opened at $253.79 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.58. The stock has a market capitalization of $3.07 trillion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The firm has a 50 day moving average of $232.18 and a two-hundred day moving average of $193.25.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The firm's revenue was up 13.8% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent research reports. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, October 8th. UBS Group set a $255.00 price target on shares of Alphabet and gave the stock a "neutral" rating in a report on Thursday, October 9th. Finally, Morgan Stanley boosted their price target on shares of Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $244.68.

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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