Corundum Group Inc. Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Corundum Group Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,307 shares of the information services provider’s stock after purchasing an additional 2,133 shares during the quarter. Corundum Group Inc.’s holdings in Alphabet were worth $1,963,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOG. Weiss Asset Management LP bought a new stake in Alphabet in the third quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the 3rd quarter worth $33,000. Abich Financial Wealth Management LLC raised its position in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. HWG Holdings LP bought a new position in shares of Alphabet in the 2nd quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,387 shares of company stock valued at $24,368,654. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $200.03 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.45 trillion, a PE ratio of 26.53, a P/E/G ratio of 1.25 and a beta of 0.99. The company has a 50 day moving average price of $186.56 and a 200-day moving average price of $174.89. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the company posted $1.55 EPS. Alphabet’s revenue was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is currently 10.61%.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. UBS Group lifted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Scotiabank initiated coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Company 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.