Corundum Group Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 46.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,138 shares of the information services provider’s stock after acquiring an additional 3,856 shares during the period. Corundum Group Inc.’s holdings in Alphabet were worth $2,298,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in GOOGL. LMR Partners LLP bought a new stake in shares of Alphabet in the third quarter valued at about $32,000. Denver PWM LLC lifted its stake in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares in the last quarter. Quarry LP acquired a new position in Alphabet during the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet during the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC raised its holdings in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares during the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $197.98 on Friday. The firm has a 50 day moving average of $185.46 and a 200-day moving average of $173.55. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $202.29. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.42 trillion, a PE ratio of 26.26, a PEG ratio of 1.27 and a beta of 0.98.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. JPMorgan Chase & Co. raised their price objective on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Royal Bank of Canada raised their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.67.
Check Out Our Latest Research Report on GOOGL
Insiders Place Their Bets
In other news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is currently owned by corporate insiders.
About Alphabet
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.
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