Madrona Financial Services LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Madrona Financial Services LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,376 shares of the information services provider’s stock after buying an additional 121 shares during the quarter. Madrona Financial Services LLC’s holdings in Alphabet were worth $1,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kennedy Capital Management LLC increased its holdings in Alphabet by 13.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock worth $8,532,000 after purchasing an additional 7,556 shares during the period. Baker Avenue Asset Management LP increased its holdings in Alphabet by 1.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 24,498 shares of the information services provider’s stock worth $3,230,000 after purchasing an additional 341 shares during the period. Ramirez Asset Management Inc. purchased a new position in Alphabet during the 3rd quarter worth $2,643,000. Holderness Investments Co. increased its holdings in Alphabet by 1.7% during the 3rd quarter. Holderness Investments Co. now owns 18,480 shares of the information services provider’s stock worth $2,437,000 after purchasing an additional 300 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings in Alphabet by 0.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 188,294 shares of the information services provider’s stock worth $24,827,000 after purchasing an additional 1,499 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

Read Our Latest Stock Report on GOOG

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders sold 146,288 shares of company stock valued at $25,345,053 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.4 %

Alphabet stock opened at $187.39 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.62. The business has a fifty day moving average price of $175.99 and a 200-day moving average price of $156.79.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Alphabet Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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