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

Madrona Financial Services LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the first quarter, Holdings Channel reports. The fund owned 7,376 shares of the information services provider’s stock after acquiring an additional 121 shares during the period. Madrona Financial Services LLC’s holdings in Alphabet were worth $1,123,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet during the fourth quarter worth $26,000. Partnership Wealth Management LLC acquired a new position in shares of Alphabet during the fourth quarter worth $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the fourth quarter worth $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 146,288 shares of company stock valued at $25,345,053 over the last quarter. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.86.

Alphabet Stock Performance

NASDAQ GOOG 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. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $187.62. The company has a market capitalization of $2.32 trillion, a PE ratio of 28.74, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a fifty day moving average of $175.99 and a two-hundred day moving average of $156.79.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

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.