Corundum Group Inc. Has $1.24 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Corundum Group Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,212 shares of the information services provider’s stock after selling 72 shares during the quarter. Corundum Group Inc.’s holdings in Alphabet were worth $1,239,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Affiance Financial LLC grew its stake in shares of Alphabet by 4.5% during the first quarter. Affiance Financial LLC now owns 9,350 shares of the information services provider’s stock valued at $1,411,000 after purchasing an additional 400 shares during the last quarter. Ellis Investment Partners LLC raised its position in Alphabet by 8.6% in the 1st quarter. Ellis Investment Partners LLC now owns 28,548 shares of the information services provider’s stock worth $4,309,000 after purchasing an additional 2,258 shares during the last quarter. Clarity Financial LLC lifted its holdings in Alphabet by 4.8% during the 1st quarter. Clarity Financial LLC now owns 4,956 shares of the information services provider’s stock worth $748,000 after buying an additional 227 shares in the last quarter. DGS Capital Management LLC boosted its position in Alphabet by 32.6% in the 1st quarter. DGS Capital Management LLC now owns 14,379 shares of the information services provider’s stock valued at $2,170,000 after buying an additional 3,532 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its stake in shares of Alphabet by 3.3% in the 1st quarter. Revolve Wealth Partners LLC now owns 14,510 shares of the information services provider’s stock valued at $2,190,000 after buying an additional 470 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Mizuho lifted their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Finally, Susquehanna upped their target price on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Six research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

Check Out Our Latest Analysis on GOOGL

Alphabet Trading Down 1.8 %

Alphabet stock opened at $182.15 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a 50-day moving average of $172.85 and a 200-day moving average of $154.14. The company has a market cap of $2.25 trillion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a one year low of $115.35 and a one year high of $186.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period last year, the company earned $1.17 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,284 shares of company stock valued at $24,534,393. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.