CORDA Investment Management LLC. Has $59.48 Million Stock Position in Alphabet Inc. $GOOGL

CORDA Investment Management LLC. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,862 shares of the information services provider’s stock after selling 7,548 shares during the quarter. Alphabet makes up approximately 4.1% of CORDA Investment Management LLC.’s portfolio, making the stock its 3rd largest holding. CORDA Investment Management LLC.’s holdings in Alphabet were worth $59,485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after buying an additional 12,531,695 shares during the last quarter. State Street Corp grew its holdings in shares of Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock worth $45,625,595,000 after purchasing an additional 2,666,676 shares in the last quarter. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,534,239,000. Finally, Bank of America Corp DE boosted its stake in Alphabet by 4.9% during the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider’s stock worth $21,630,861,000 after buying an additional 3,218,852 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Thursday, April 30th. Robert W. Baird lifted their price objective on Alphabet from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Guggenheim reiterated a “buy” rating and set a $450.00 price objective (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. CICC Research boosted their target price on shares of Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $414.54.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates by a wide margin, signaling strong underlying business momentum. Alphabet (GOOGL) Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Google Cloud’s 82% growth suggests Alphabet’s AI spending is translating into faster cloud demand and improving monetization. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue growth and strength across search and advertising add evidence that core businesses are still healthy. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion, Helping To Drive Strong Report By Parent Alphabet

Alphabet Stock Performance

Alphabet stock opened at $342.09 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1 year low of $187.82 and a 1 year high of $408.61. The company has a market cap of $4.14 trillion, a PE ratio of 26.09, a PEG ratio of 1.44 and a beta of 1.24. The company’s 50-day moving average is $366.14 and its two-hundred day moving average is $338.86.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $6.47. The company had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Equities analysts anticipate that Alphabet Inc. will post 14.34 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 6.71%.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the transaction, the director directly owned 18,833 shares in the company, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,415 shares of company stock valued at $7,672,279 in the last ninety days. Insiders own 11.61% of the company’s stock.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.