Alphabet Inc. $GOOG is Matrix Asset Advisors Inc. NY's 3rd Largest Position

Key Points

• Matrix Asset Advisors Inc. NY reduced its Alphabet stake by 8.7% in the first quarter, but the stock still remained its third-largest holding at 3.8% of the portfolio. The firm held 143,865 shares worth about $41.3 million after the sale.
• Institutional and analyst sentiment remains broadly positive, with Alphabet recently added to the Dow Jones Industrial Average and several analysts reiterating buy or overweight ratings. The stock currently has a consensus “Buy” rating and a target price of $376.78.
• Alphabet continues to show strong financial performance, reporting first-quarter earnings and revenue that beat estimates, while also raising its quarterly dividend to $0.22 per share. However, investors are still watching regulatory pressure and heavy AI infrastructure spending as potential headwinds.

Matrix Asset Advisors Inc. NY cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,865 shares of the information services provider's stock after selling 13,747 shares during the period. Alphabet comprises about 3.8% of Matrix Asset Advisors Inc. NY's portfolio, making the stock its 3rd biggest position. Matrix Asset Advisors Inc. NY's holdings in Alphabet were worth $41,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Imprint Wealth LLC acquired a new stake in Alphabet during the 3rd quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in Alphabet in the 4th quarter valued at approximately $38,000. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet in the fourth quarter worth $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet in the fourth quarter worth $41,000. Finally, Towne Trust Company N.A increased its position in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s inclusion in the Dow Jones Industrial Average is drawing passive fund flows and reinforcing its status as a blue-chip tech leader. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: New AI product launches, including Nano Banana 2 Lite and Gemini Omni, suggest Alphabet is still pushing harder on cheaper, faster AI tools that could boost adoption and competitiveness. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: FactSet’s strategic partnership with Google Cloud adds another enterprise validation point for Alphabet’s AI and cloud strategy. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
• Positive Sentiment: Wall Street commentary remains broadly bullish, with multiple analysts reiterating buy ratings and raising price targets, supporting the idea that recent weakness may be a buying opportunity.
• Neutral Sentiment: Google exceeded its $1 billion Africa investment target, which is strategically positive but not likely a near-term earnings driver. Reuters: Google has exceeded $1 billion Africa investment target
• Neutral Sentiment: Several reports highlighted strong long-term AI and cloud upside, but these were largely reiterations of an already bullish thesis rather than new catalysts.
• Negative Sentiment: A Swedish court ordered Google to pay nearly $2 billion in antitrust damages to Klarna’s PriceRunner unit, renewing regulatory pressure on Alphabet’s search and shopping businesses. Reuters: Swedish court says Google is to pay $1.5 billion to Klarna in antitrust damages
• Negative Sentiment: Alphabet insiders continued to sell shares, including director Frances Arnold and president John Kent Walker, which can weigh on investor sentiment even if the sales were routine. SEC filing: Alphabet insider transaction
• Negative Sentiment: Investors are also worried about Alphabet’s heavy AI infrastructure spending and compute-capacity constraints, which could pressure margins in the near term. Yahoo Finance: Alphabet Could Add 9 GW of Compute Capacity in 2028, Morgan Stanley Says

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares of the company's stock, valued at $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,465 shares of company stock worth $8,020,511 in the last three months. Company insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOG shares. JPMorgan Chase & Co. lifted their target price on Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Stifel Nicolaus set a $420.00 price target on Alphabet in a report on Wednesday, May 20th. KeyCorp reaffirmed an "overweight" rating on shares of Alphabet in a research report on Wednesday, May 20th. Raymond James Financial reiterated a "strong-buy" rating and issued a $425.00 price objective on shares of Alphabet in a research note on Thursday, April 30th. Finally, Citigroup reissued a "market outperform" rating on shares of Alphabet in a research report on Monday, June 22nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $376.78.

Alphabet Trading Up 1.3%

GOOG opened at $357.89 on Thursday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52 week low of $173.88 and a 52 week high of $404.47. The business's 50 day moving average is $367.43 and its two-hundred day moving average is $332.84. The firm has a market cap of $4.34 trillion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company's revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.81 earnings per share. On average, research analysts predict that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.