Mattern Capital Management LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Mattern Capital Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 17.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,122 shares of the information services provider’s stock after buying an additional 896 shares during the period. Mattern Capital Management LLC’s holdings in Alphabet were worth $1,024,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GOOG. JPMorgan Chase & Co. grew its stake in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares in the last quarter. Swedbank AB acquired a new stake in shares of Alphabet during the first quarter worth approximately $1,378,708,000. Capital International Investors grew its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Alphabet by 65.9% in the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after buying an additional 2,500,621 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after acquiring an additional 2,190,795 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Scotiabank initiated coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. UBS Group dropped their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $166.99 on Monday. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm has a market capitalization of $2.06 trillion, a PE ratio of 23.96, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business’s fifty day moving average price is $163.35 and its two-hundred day moving average price is $170.12.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last quarter. 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.