Matthew Goff Investment Advisor LLC Has $647,000 Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Matthew Goff Investment Advisor LLC increased its stake in Alphabet Inc. by 37.4% in the second quarter, totaling 3,674 shares valued at approximately $647,000.
• Insider John Kent Walker sold 23,820 shares at $194.70, reducing his position by 35.65%, while CEO Sundar Pichai sold 32,500 shares at $229.73, marking a 1.32% decrease in ownership.
• Brokerages have raised their price targets for Alphabet, with the consensus now at $225.54, indicating a "Moderate Buy" rating among analysts.

Matthew Goff Investment Advisor LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 37.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,674 shares of the information services provider's stock after purchasing an additional 1,000 shares during the period. Matthew Goff Investment Advisor LLC's holdings in Alphabet were worth $647,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. lifted 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 worth $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOGL traded down $2.19 during trading hours on Monday, hitting $252.53. The company had a trading volume of 32,240,768 shares, compared to its average volume of 38,953,800. The firm has a market cap of $3.05 trillion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. 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 fifty-two week low of $140.53 and a fifty-two week high of $256.00. The business has a fifty day simple moving average of $209.36 and a 200-day simple moving average of $180.41.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock worth $52,405,304 over the last quarter. Insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GOOGL shares. Royal Bank Of Canada boosted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. UBS Group boosted their price objective on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Piper Sandler boosted their price objective on shares of Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a research report on Thursday. Barclays lifted their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Finally, Susquehanna lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $231.31.

About Alphabet

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.