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

Corundum Group Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 26.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,307 shares of the information services provider’s stock after buying an additional 2,133 shares during the period. Corundum Group Inc.’s holdings in Alphabet were worth $1,963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Maltin Wealth Management Inc. boosted its holdings in shares of Alphabet by 19.9% during the 4th quarter. Maltin Wealth Management Inc. now owns 1,812 shares of the information services provider’s stock valued at $345,000 after buying an additional 301 shares in the last quarter. AMI Investment Management Inc. lifted its position in Alphabet by 2.9% during the 4th quarter. AMI Investment Management Inc. now owns 45,467 shares of the information services provider’s stock valued at $8,659,000 after acquiring an additional 1,274 shares during the period. BlueSky Wealth Advisors LLC grew its holdings in Alphabet by 2.4% in the fourth quarter. BlueSky Wealth Advisors LLC now owns 31,063 shares of the information services provider’s stock worth $5,916,000 after purchasing an additional 726 shares during the period. Strong Tower Advisory Services grew its holdings in Alphabet by 3.1% in the fourth quarter. Strong Tower Advisory Services now owns 3,383 shares of the information services provider’s stock worth $644,000 after purchasing an additional 103 shares during the period. Finally, Wealth Management Partners LLC lifted its holdings in shares of Alphabet by 0.6% during the fourth quarter. Wealth Management Partners LLC now owns 18,946 shares of the information services provider’s stock valued at $3,608,000 after purchasing an additional 115 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOG has been the topic of several recent research reports. Scotiabank began coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This represents a 13.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % 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. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.2 %

Shares of Alphabet stock opened at $200.03 on Thursday. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $203.84. The company’s fifty day simple moving average is $186.56 and its 200-day simple moving average is $174.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock 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.

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

Alphabet Announces Dividend

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

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.