Madrona Financial Services LLC Increases Stake in Alphabet Inc. $GOOGL

Madrona Financial Services LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,072 shares of the information services provider’s stock after purchasing an additional 461 shares during the period. Madrona Financial Services LLC’s holdings in Alphabet were worth $1,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC boosted its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet during the first quarter worth $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at $4,171,312.80. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 276,738 shares of company stock worth $59,135,475. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOGL. Truist Financial upped their target price on shares of Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Westpark Capital upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Melius Research upped their target price on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Cantor Fitzgerald restated a “neutral” rating and set a $201.00 target price on shares of Alphabet in a research report on Wednesday, September 24th. Finally, Piper Sandler upped their target price on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $242.98.

Alphabet Price Performance

Alphabet stock opened at $245.76 on Wednesday. The firm has a 50-day moving average price of $223.41 and a 200-day moving average price of $187.13. The firm has a market capitalization of $2.97 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. 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 $140.53 and a 12-month high of $256.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. 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 8.95%.

About Alphabet

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.