Corundum Group Inc. Has $1.37 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Corundum Group Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 23.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,282 shares of the information services provider’s stock after selling 2,599 shares during the period. Alphabet accounts for 0.6% of Corundum Group Inc.’s holdings, making the stock its 29th largest holding. Corundum Group Inc.’s holdings in Alphabet were worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Violich Capital Management Inc. increased its stake in Alphabet by 1.3% during the 3rd quarter. Violich Capital Management Inc. now owns 333,115 shares of the information services provider’s stock worth $55,247,000 after acquiring an additional 4,175 shares during the period. Brown Lisle Cummings Inc. increased its holdings in shares of Alphabet by 2.0% during the third quarter. Brown Lisle Cummings Inc. now owns 48,480 shares of the information services provider’s stock worth $8,040,000 after buying an additional 965 shares in the last quarter. Godsey & Gibb Inc. boosted its stake in shares of Alphabet by 7.2% during the third quarter. Godsey & Gibb Inc. now owns 4,310 shares of the information services provider’s stock valued at $715,000 after purchasing an additional 290 shares in the last quarter. Calton & Associates Inc. increased its position in Alphabet by 2,102.7% in the 3rd quarter. Calton & Associates Inc. now owns 36,961 shares of the information services provider’s stock valued at $6,130,000 after acquiring an additional 35,283 shares during the period. Finally, Baker Boyer National Bank lifted its holdings in Alphabet by 19.8% during the 3rd quarter. Baker Boyer National Bank now owns 2,610 shares of the information services provider’s stock worth $433,000 after buying an additional 431 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Securities increased their price target on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday. Mizuho boosted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, thirty have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.51.

Alphabet Stock Up 2.8 %

NASDAQ GOOGL opened at $174.46 on Thursday. The business’s 50-day moving average is $162.17 and its 200 day moving average is $168.78. The stock has a market capitalization of $2.16 trillion, a PE ratio of 26.76, a PEG ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $122.68 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.65 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by insiders.

Alphabet 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.