Madrona Financial Services LLC Purchases 157 Shares of Alphabet Inc. $GOOG

Madrona Financial Services LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,926 shares of the information services provider’s stock after acquiring an additional 157 shares during the quarter. Madrona Financial Services LLC’s holdings in Alphabet were worth $874,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the 1st quarter worth $26,000. Robbins Farley grew its stake in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in Alphabet during the 1st quarter worth $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the 1st quarter worth $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $246.45 on Friday. The business has a 50 day simple moving average of $221.89 and a two-hundred day simple moving average of $187.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The stock has a market capitalization of $2.98 trillion, a P/E ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research analyst reports. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Scotiabank boosted their target price on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 22nd. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Saturday, September 27th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

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.