Matthew Goff Investment Advisor LLC Sells 2,457 Shares of Alphabet Inc. $GOOG

Matthew Goff Investment Advisor LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,769 shares of the information services provider’s stock after selling 2,457 shares during the period. Alphabet makes up 7.0% of Matthew Goff Investment Advisor LLC’s holdings, making the stock its 2nd largest position. Matthew Goff Investment Advisor LLC’s holdings in Alphabet were worth $41,258,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GOOG. Vanguard Group Inc. raised its position in Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after acquiring an additional 8,128,234 shares in the last quarter. State Street Corp boosted its position in shares of Alphabet by 0.5% during the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock valued at $58,712,878,000 after purchasing an additional 953,790 shares in the last quarter. Auto Owners Insurance Co boosted its position in shares of Alphabet by 38,409.2% during the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock valued at $5,643,262,000 after purchasing an additional 179,369,280 shares in the last quarter. J. Stern & Co. LLP grew its stake in shares of Alphabet by 28,482.8% in the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after purchasing an additional 111,699,704 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Alphabet by 1.1% in the 4th quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock worth $31,569,189,000 after purchasing an additional 1,073,151 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GOOG. DZ Bank raised shares of Alphabet to a “strong-buy” rating in a research note on Thursday, July 23rd. BMO Capital Markets lifted their price target on shares of Alphabet from $455.00 to $465.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $395.00 price target (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Scotiabank reaffirmed an “outperform” rating and issued a $450.00 price target (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Roth Capital increased their price objective on Alphabet from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $410.09.

Alphabet Price Performance

GOOG stock opened at $356.62 on Friday. Alphabet Inc. has a one year low of $195.22 and a one year high of $404.47. The firm has a 50-day moving average of $354.40 and a two-hundred day moving average of $338.85. The firm has a market capitalization of $4.36 trillion, a PE ratio of 17.91, a P/E/G ratio of 1.01 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 2.64 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 for the quarter, topping the consensus estimate of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $116.53 billion. During the same period last year, the firm posted $2.31 earnings per share. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Dividend Announcement

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

Alphabet News Summary

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

Insiders Place Their Bets

In other news, insider John Kent Walker sold 8,998 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares of the company’s stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The disclosure for this sale is available in the SEC filing. Insiders have sold 600,547 shares of company stock worth $16,255,540 over the last three months. Company insiders own 12.99% of the company’s stock.

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.