Burns Matteson Capital Management LLC Acquires Shares of 1,334 Alphabet Inc. (NASDAQ:GOOG)

Burns Matteson Capital Management LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,334 shares of the information services provider’s stock, valued at approximately $203,000.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at about $4,101,040,000. JPMorgan Chase & Co. increased its position in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $11,600,970,000. Cerity Partners LLC increased its position in shares of Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after purchasing an additional 2,583,128 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Alphabet by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after purchasing an additional 2,222,950 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 3.0 %

Shares of NASDAQ:GOOG traded down $5.21 during trading on Thursday, reaching $169.16. 28,932,168 shares of the company traded hands, compared to its average volume of 20,625,363. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The business’s fifty day moving average is $180.74 and its 200-day moving average is $161.58. The firm has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 1.36 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.96%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same period in the prior year, the business posted $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus price target of $177.50.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,988 shares of company stock valued at $26,068,355. Company insiders own 12.99% of the company’s stock.

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.