Matthew Goff Investment Advisor LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

Matthew Goff Investment Advisor LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,826 shares of the information services provider’s stock after selling 588 shares during the quarter. Matthew Goff Investment Advisor LLC’s holdings in Alphabet were worth $1,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. LSV Asset Management purchased a new position in Alphabet during the fourth quarter valued at approximately $27,000. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the period. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet in the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet during the fourth quarter valued at $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,570 shares of company stock worth $32,003,532 over the last 90 days. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. KeyCorp cut their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Scotiabank lowered their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Susquehanna reissued a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $204.88.

Alphabet Trading Down 1.8%

GOOG opened at $173.98 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. 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 business has a 50 day simple moving average of $166.15 and a two-hundred day simple moving average of $176.43. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.23 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is presently 9.36%.

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.