Matthew Goff Investment Advisor LLC Buys 116,929 Shares of Alphabet Inc. $GOOG

Key Points

• Matthew Goff Investment Advisor LLC increased its stake in Alphabet Inc. by 1,713% during Q2, acquiring an additional 116,929 shares to own a total of 123,755 shares, valued at approximately $21.95 million.
• Alphabet reported a quarterly earnings per share of $2.31, exceeding expectations, with a revenue of $96.43 billion, marking a 13.8% increase compared to last year.
• The company's recent dividend payout was $0.21 per share, resulting in an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Matthew Goff Investment Advisor LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1,713.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,755 shares of the information services provider's stock after buying an additional 116,929 shares during the quarter. Alphabet accounts for 4.1% of Matthew Goff Investment Advisor LLC's portfolio, making the stock its 6th largest position. Matthew Goff Investment Advisor LLC's holdings in Alphabet were worth $21,953,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its holdings in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Deutsche Bank AG grew its holdings in Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock valued at $3,183,979,000 after purchasing an additional 440,526 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm'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 sale, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock valued at $52,405,304 over the last three months. Company insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on GOOG. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research upped their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Robert W. Baird increased their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Cowen reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $230.35.

Alphabet Stock Down 0.2%

Alphabet stock traded down $0.62 during trading on Tuesday, reaching $252.26. The stock had a trading volume of 8,767,584 shares, compared to its average volume of 23,933,424. 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 $256.70. The business has a 50 day moving average price of $211.48 and a 200 day moving average price of $182.24. The stock has a market cap of $3.05 trillion, a PE ratio of 26.87, a P/E/G ratio of 1.72 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

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.