Matrix Asset Advisors Inc. NY Sells 13,747 Shares of Alphabet Inc. $GOOG

Matrix Asset Advisors Inc. NY lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.7% in the first quarter, Holdings Channel reports. The institutional investor owned 143,865 shares of the information services provider’s stock after selling 13,747 shares during the period. Alphabet accounts for 3.8% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 3rd biggest holding. Matrix Asset Advisors Inc. NY’s holdings in Alphabet were worth $41,269,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Nvest Wealth Strategies Inc. purchased a new position in Alphabet during the fourth quarter worth about $38,000. Lifetime Wealth Management P.C. purchased a new stake in Alphabet in the 4th quarter valued at approximately $38,000. Imprint Wealth LLC purchased a new stake in Alphabet in the 3rd quarter valued at approximately $31,000. Bard Associates Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $41,000. Finally, Towne Trust Company N.A increased its position in Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 1.3%

Shares of GOOG stock opened at $357.89 on Thursday. The stock has a market cap of $4.34 trillion, a P/E ratio of 27.30, a P/E/G ratio of 1.51 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a fifty-two week low of $173.88 and a fifty-two week high of $404.47. The business has a fifty day simple moving average of $367.43 and a 200-day simple moving average of $332.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.81 EPS. On average, analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is currently 6.71%.

Insiders Place Their Bets

In other news, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This trade represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 160,465 shares of company stock valued at $8,020,511. Corporate insiders own 12.99% of the company’s stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s inclusion in the Dow Jones Industrial Average is drawing passive fund flows and reinforcing its status as a blue-chip tech leader. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: New AI product launches, including Nano Banana 2 Lite and Gemini Omni, suggest Alphabet is still pushing harder on cheaper, faster AI tools that could boost adoption and competitiveness. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: FactSet’s strategic partnership with Google Cloud adds another enterprise validation point for Alphabet’s AI and cloud strategy. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
• Positive Sentiment: Wall Street commentary remains broadly bullish, with multiple analysts reiterating buy ratings and raising price targets, supporting the idea that recent weakness may be a buying opportunity.
• Neutral Sentiment: Google exceeded its $1 billion Africa investment target, which is strategically positive but not likely a near-term earnings driver. Reuters: Google has exceeded $1 billion Africa investment target
• Neutral Sentiment: Several reports highlighted strong long-term AI and cloud upside, but these were largely reiterations of an already bullish thesis rather than new catalysts.
• Negative Sentiment: A Swedish court ordered Google to pay nearly $2 billion in antitrust damages to Klarna’s PriceRunner unit, renewing regulatory pressure on Alphabet’s search and shopping businesses. Reuters: Swedish court says Google is to pay $1.5 billion to Klarna in antitrust damages
• Negative Sentiment: Alphabet insiders continued to sell shares, including director Frances Arnold and president John Kent Walker, which can weigh on investor sentiment even if the sales were routine. SEC filing: Alphabet insider transaction
• Negative Sentiment: Investors are also worried about Alphabet’s heavy AI infrastructure spending and compute-capacity constraints, which could pressure margins in the near term. Yahoo Finance: Alphabet Could Add 9 GW of Compute Capacity in 2028, Morgan Stanley Says

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOG. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Pivotal Research reaffirmed a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. Wells Fargo & Company reiterated an “overweight” rating and issued a $435.00 price objective on shares of Alphabet in a research report on Tuesday, June 2nd. TD Cowen raised their target price on Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, Truist Financial set a $430.00 target price on shares of Alphabet in a research report on Monday, June 1st. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $376.78.

Alphabet Profile

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.