MADDEN SECURITIES Corp Sells 4,024 Shares of Alphabet Inc. $GOOG

MADDEN SECURITIES Corp trimmed its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 42.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,462 shares of the information services provider’s stock after selling 4,024 shares during the quarter. MADDEN SECURITIES Corp’s holdings in Alphabet were worth $1,330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. IFS Advisors LLC raised its stake in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley grew its position in shares of 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 purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC raised its position in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Finally, University of Illinois Foundation acquired a new stake in shares of Alphabet in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley raised their price objective on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. raised their price target on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $375.00 price objective on shares of Alphabet in a research report on Thursday. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research note on Wednesday, December 17th. Finally, BNP Paribas initiated coverage on shares of Alphabet in a research report on Monday, November 24th. They issued an “outperform” rating for the company. Seven equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $320.31.

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Alphabet Stock Down 0.8%

GOOG stock opened at $330.34 on Friday. The firm has a 50-day moving average price of $312.04 and a 200-day moving average price of $255.02. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $341.20. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.99 trillion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 1.84 and a beta of 1.09.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the company earned $2.12 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,829 shares of the business’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the sale, the insider directly owned 42,972 shares in the company, valued at approximately $13,531,453.08. The trade was a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $312.30, for a total transaction of $867,569.40. Following the completion of the transaction, the chief accounting officer owned 8,962 shares of the company’s stock, valued at approximately $2,798,832.60. This trade represents a 23.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 192,687 shares of company stock worth $58,728,068 over the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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