Corundum Group Inc. Has $2.30 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Corundum Group Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 46.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,138 shares of the information services provider’s stock after acquiring an additional 3,856 shares during the quarter. Corundum Group Inc.’s holdings in Alphabet were worth $2,298,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Schear Investment Advisers LLC boosted its stake in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC raised its position in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. lifted its stake in shares of Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares during the period. abrdn plc boosted its position in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. grew its stake in Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock opened at $197.98 on Friday. The company has a market capitalization of $2.42 trillion, a P/E ratio of 26.26, a P/E/G ratio of 1.27 and a beta of 0.98. The company has a 50 day moving average of $185.46 and a 200 day moving average of $173.55. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the firm earned $1.55 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOOGL. Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Truist Financial boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $208.67.

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.