Corundum Group Inc. Sells 72 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Corundum Group Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,212 shares of the information services provider’s stock after selling 72 shares during the period. Corundum Group Inc.’s holdings in Alphabet were worth $1,239,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Affiance Financial LLC boosted its stake in Alphabet by 4.5% during the first quarter. Affiance Financial LLC now owns 9,350 shares of the information services provider’s stock worth $1,411,000 after acquiring an additional 400 shares in the last quarter. Ellis Investment Partners LLC boosted its position in shares of Alphabet by 8.6% during the 1st quarter. Ellis Investment Partners LLC now owns 28,548 shares of the information services provider’s stock worth $4,309,000 after purchasing an additional 2,258 shares in the last quarter. Clarity Financial LLC grew its stake in shares of Alphabet by 4.8% in the 1st quarter. Clarity Financial LLC now owns 4,956 shares of the information services provider’s stock valued at $748,000 after buying an additional 227 shares during the period. DGS Capital Management LLC increased its position in Alphabet by 32.6% in the 1st quarter. DGS Capital Management LLC now owns 14,379 shares of the information services provider’s stock valued at $2,170,000 after buying an additional 3,532 shares in the last quarter. Finally, Revolve Wealth Partners LLC raised its stake in Alphabet by 3.3% during the 1st quarter. Revolve Wealth Partners LLC now owns 14,510 shares of the information services provider’s stock worth $2,190,000 after buying an additional 470 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price objective (down previously from $182.00) on shares of Alphabet in a research note on Friday. Wedbush boosted their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. TD Cowen boosted their target price on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company raised their price target on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $193.66.

Alphabet Price Performance

NASDAQ GOOGL opened at $182.15 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.25 trillion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $186.05. The firm’s 50-day simple moving average is $172.85 and its two-hundred day simple moving average is $154.14.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the prior year, the company posted $1.17 EPS. Research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,284 shares of company stock worth $24,534,393. 11.55% of the stock is owned by corporate 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.