Alphabet Inc. $GOOG Shares Acquired by MADDEN SECURITIES Corp

Key Points

• MADDEN SECURITIES Corp significantly increased its stake in Alphabet Inc. by 194.2% during the second quarter, now owning 9,486 shares valued at approximately $1.68 million.
• Alphabet's quarterly earnings surpassed estimates with an EPS of $2.31, exceeding the consensus of $2.12, accompanied by a revenue of $96.43 billion.
• The company declared a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.3% and a low debt-to-equity ratio of 0.07.

MADDEN SECURITIES Corp increased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 194.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,486 shares of the information services provider's stock after purchasing an additional 6,262 shares during the quarter. MADDEN SECURITIES Corp's holdings in Alphabet were worth $1,683,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ACT Advisors LLC. lifted its stake in shares of Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock valued at $288,000 after purchasing an additional 55 shares in the last quarter. LongView Wealth Management increased its position in Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after purchasing an additional 56 shares in the last quarter. Kooman & Associates raised its holdings in Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock valued at $732,000 after buying an additional 56 shares during the period. Colton Groome Financial Advisors LLC lifted its position in Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock valued at $309,000 after buying an additional 57 shares in the last quarter. Finally, Brueske Advisory Services LLC grew its stake in Alphabet by 2.7% during the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock worth $389,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 1.3%

Shares of NASDAQ:GOOG opened at $242.21 on Friday. The firm has a market cap of $2.93 trillion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a fifty day simple moving average of $226.01 and a 200 day simple moving average of $189.21. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the transaction, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 over the last 90 days. Corporate insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOOG. Jefferies Financial Group raised their target price on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Mizuho raised Alphabet to a "strong-buy" rating in a research report on Monday, September 29th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Robert W. Baird boosted their price target on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $241.00.

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.

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