Matrix Asset Advisors Inc. NY Sells 3,036 Shares of Alphabet Inc. (NASDAQ:GOOG)

Matrix Asset Advisors Inc. NY decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,189 shares of the information services provider's stock after selling 3,036 shares during the quarter. Alphabet comprises 2.7% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 14th largest holding. Matrix Asset Advisors Inc. NY's holdings in Alphabet were worth $24,870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ARQ Wealth Advisors LLC boosted its position in Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky boosted its position in Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after purchasing an additional 1,376 shares during the last quarter. Harvest Investment Services LLC boosted its position in Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after purchasing an additional 138 shares during the last quarter. North Forty Two & Co. purchased a new position in Alphabet in the fourth quarter worth $281,000. Finally, Fermata Advisors LLC boosted its position in Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 1.0%

Alphabet stock traded down $1.72 during trading hours on Monday, reaching $166.01. The company had a trading volume of 36,202,053 shares, compared to its average volume of 20,645,192. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a 50-day moving average price of $166.31 and a 200 day moving average price of $176.41. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 1.18 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $1.89 EPS. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 228,070 shares of company stock worth $37,745,632. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent research reports. KeyCorp dropped their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. JPMorgan Chase & Co. increased their price objective on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Scotiabank dropped their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.88.

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.