Corundum Group Inc. Sells 141 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Corundum Group Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 8,284 shares of the information services provider’s stock after selling 141 shares during the period. Corundum Group Inc.’s holdings in Alphabet were worth $1,157,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. DC Investments Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $114,000. Bridgefront Capital LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $225,000. Worth Asset Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC lifted its holdings in shares of Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $281,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 1.1 %

NASDAQ:GOOGL opened at $156.60 on Wednesday. The firm’s 50-day moving average price is $144.33 and its 200-day moving average price is $139.28. The company has a market capitalization of $1.95 trillion, a PE ratio of 27.00, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $158.56.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the previous year, the business posted $1.05 EPS. On average, equities analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOGL. StockNews.com upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Wells Fargo & Company decreased their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. KeyCorp lifted their target price on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Finally, Wolfe Research lifted their target price on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.39.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total value of $3,198,150.00. Following the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The disclosure for this sale can be found here. Insiders have sold a total of 250,539 shares of company stock worth $35,906,259 in the last quarter. Corporate insiders own 0.88% of the company’s stock.

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.