Alphabet Inc. $GOOG Shares Sold by Matthew Goff Investment Advisor LLC

Matthew Goff Investment Advisor LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 116,769 shares of the information services provider’s stock after selling 2,457 shares during the quarter. Alphabet makes up about 7.0% of Matthew Goff Investment Advisor LLC’s investment portfolio, making the stock its 2nd largest holding. Matthew Goff Investment Advisor LLC’s holdings in Alphabet were worth $41,258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Gerber Kawasaki Wealth & Investment Management increased its position in Alphabet by 1.0% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock worth $86,596,000 after buying an additional 2,850 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock worth $19,060,000 after acquiring an additional 4,239 shares in the last quarter. Violich Capital Management Inc. increased its holdings in shares of Alphabet by 1.0% during the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock valued at $106,936,000 after acquiring an additional 3,378 shares during the last quarter. Montchanin Asset Management LLC acquired a new position in shares of Alphabet during the 1st quarter valued at about $7,075,000. Finally, Robinhood Asset Management LLC bought a new position in shares of Alphabet in the 4th quarter valued at approximately $20,337,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 600,547 shares of company stock valued at $16,255,540. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Wolfe Research set a $460.00 target price on Alphabet in a report on Thursday, July 23rd. Morgan Stanley lowered their price target on Alphabet from $415.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Piper Sandler reissued an “overweight” rating and issued a $395.00 price target (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. TD Cowen restated a “buy” rating and issued a $475.00 price objective on shares of Alphabet in a research note on Thursday, July 23rd. Finally, Truist Financial decreased their price objective on shares of Alphabet from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $410.09.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s planned 10-part bond offering of up to $25 billion was met with approximately $115 billion in investor orders, indicating strong confidence in the company’s credit quality and long-term AI strategy. The funds are intended to support data-center expansion and other infrastructure investments. Google’s AI Bond Sale Attracts $115 Billion of Orders
• Positive Sentiment: Google Cloud continues to benefit from strong AI demand, while AI lab Mirendil signed a multiyear, $100 million-plus agreement to obtain computing capacity from Google Cloud. Such contracts could help monetize Alphabet’s substantial AI infrastructure spending. Mirendil Inks $100M+ Google Cloud Deal
• Neutral Sentiment: The debt sale gives Alphabet additional flexibility to fund its roughly $205 billion AI infrastructure plan, but it also increases borrowing and raises questions about returns on capital. Strong demand for the bonds reduces near-term financing risk, although investors are likely to scrutinize spending discipline and future profitability. Alphabet Seeks Up to $25 Billion From Bond Sale
• Negative Sentiment: Alphabet is facing renewed concerns about its ability to lead in frontier AI after chief scientist Jeff Dean departed to launch a startup with other researchers, while DeepMind chief Demis Hassabis moved away from day-to-day management into a broader chief scientist role. The departures heighten fears of a talent drain and potential disruption to Gemini and other AI initiatives. Google Shakes Up AI Leadership
• Negative Sentiment: Commentary suggests Google Cloud’s commercial growth is competing for scarce computing resources and management attention with DeepMind’s longer-term AI research, adding execution risk as Alphabet attempts to scale both businesses. Alphabet’s Cloud Growth Straining Its Frontier AI Push

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $356.62 on Friday. The business has a 50 day moving average price of $354.40 and a 200 day moving average price of $338.85. Alphabet Inc. has a twelve month low of $195.22 and a twelve month high of $404.47. The company has a market cap of $4.36 trillion, a price-to-earnings ratio of 17.91, a PEG ratio of 1.01 and a beta of 1.23. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $6.24. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company’s revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. Research analysts predict that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is presently 4.42%.

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.