Matrix Asset Advisors Inc. NY Has $30.89 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Matrix Asset Advisors Inc. NY reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,225 shares of the information services provider’s stock after selling 1,650 shares during the quarter. Alphabet accounts for approximately 3.4% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 8th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in Alphabet were worth $30,894,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new stake in Alphabet in the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the last quarter. Iron Horse Wealth Management LLC raised its stake in Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the period. Finally, Kieckhefer Group LLC acquired a new stake in Alphabet during the 4th quarter valued at $76,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOOG shares. Wells Fargo & Company increased their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup upped their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.69.

Alphabet Stock Performance

NASDAQ:GOOG opened at $202.63 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.48 trillion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $203.84. The stock’s 50-day simple moving average is $189.03 and its 200 day simple moving average is $175.35.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,630 shares of company stock worth $22,258,133 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.