MADDEN SECURITIES Corp Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

MADDEN SECURITIES Corp increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 82.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,224 shares of the information services provider’s stock after acquiring an additional 1,460 shares during the period. MADDEN SECURITIES Corp’s holdings in Alphabet were worth $504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. ARQ Wealth Advisors LLC grew its holdings in shares of Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky grew its holdings in Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock worth $2,329,000 after acquiring an additional 1,376 shares during the last quarter. Harvest Investment Services LLC grew its holdings in Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after acquiring an additional 138 shares during the last quarter. North Forty Two & Co. purchased a new position in shares of Alphabet in the fourth quarter valued at about $281,000. Finally, Fermata Advisors LLC raised its stake in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after acquiring an additional 259 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on GOOG. UBS Group cut their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Citigroup reiterated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their target price on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, KeyCorp dropped their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Stock Up 1.5%

NASDAQ:GOOG opened at $177.63 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s 50-day moving average price is $162.26 and its 200-day moving average price is $176.17. The company has a market capitalization of $2.16 trillion, a PE ratio of 22.07, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Alphabet’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

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.