Matrix Trust Co Acquires 369 Shares of Alphabet Inc. (NASDAQ:GOOGL)

by · The Cerbat Gem

Matrix Trust Co grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 38.7% in the first quarter, HoldingsChannel reports. The fund owned 1,322 shares of the information services provider’s stock after buying an additional 369 shares during the period. Matrix Trust Co’s holdings in Alphabet were worth $204,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Compass Planning Associates Inc bought a new stake in Alphabet during the fourth quarter worth about $30,000. Fiduciary Advisors Inc. bought a new stake in Alphabet during the fourth quarter worth about $39,000. PayPay Securities Corp lifted its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the period. Anderson Financial Strategies LLC bought a new stake in Alphabet during the fourth quarter worth about $49,000. Finally, Navigoe LLC bought a new stake in Alphabet during the fourth quarter worth about $51,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOGL shares. Sanford C. Bernstein upped their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Wednesday, May 21st. Bank of America increased their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $189.00 target price on shares of Alphabet in a report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $199.75.

Read Our Latest Report on Alphabet

Alphabet Stock Performance

NASDAQ:GOOGL opened at $168.21 on Friday. The company has a market capitalization of $2.04 trillion, a PE ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a 50 day simple moving average of $159.81 and a two-hundred day simple moving average of $174.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the prior year, the firm posted $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. The trade was a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is currently owned by company insiders.

Alphabet Profile

(Free Report)

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.

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