Matrix Private Capital Group LLC Purchases Shares of 3,313 Alphabet Inc. $GOOG

Matrix Private Capital Group LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,313 shares of the information services provider’s stock, valued at approximately $950,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Alphabet by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the last quarter. State Street Corp lifted its holdings in Alphabet by 0.5% during the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock worth $58,712,878,000 after buying an additional 953,790 shares during the period. Auto Owners Insurance Co grew its position in shares of Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock valued at $5,643,262,000 after buying an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP grew its position in shares of Alphabet by 28,482.8% in the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after buying an additional 111,699,704 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Alphabet by 1.1% in the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock valued at $31,569,189,000 after buying an additional 1,073,151 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $326.57 on Tuesday. The stock has a 50-day moving average price of $359.30 and a 200-day moving average price of $337.61. Alphabet Inc. has a 1-year low of $188.70 and a 1-year high of $404.47. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.96 trillion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. During the same quarter in the prior year, the company earned $2.31 EPS. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, equities research analysts expect that Alphabet Inc. will post 17.25 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 4.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOG. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Friday, July 17th. Raymond James Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Thursday. Truist Financial decreased their target price on shares of Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of Alphabet from $455.00 to $465.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $410.09.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What’s Going On?
• Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
• Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director directly owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 159,415 shares of company stock valued at $7,672,279. 12.99% of the stock is owned by insiders.

About Alphabet

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.