Alphabet Inc. (NASDAQ:GOOG) Shares Bought by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 82.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,224 shares of the information services provider's stock after purchasing an additional 1,460 shares during the period. MADDEN SECURITIES Corp's holdings in Alphabet were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC increased its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. LSV Asset Management acquired a new position in shares of Alphabet in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

GOOG stock traded up $2.38 during trading on Tuesday, hitting $180.01. 32,875,878 shares of the company's stock traded hands, compared to its average volume of 20,432,689. The stock has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The stock has a fifty day moving average price of $162.26 and a two-hundred day moving average price of $176.17. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOG. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. UBS Group decreased their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. KeyCorp lowered their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their target price on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $204.88.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the business'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 value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is currently owned by company insiders.

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.