Corundum Group Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 14.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,408 shares of the information services provider’s stock after buying an additional 1,184 shares during the quarter. Corundum Group Inc.’s holdings in Alphabet were worth $1,726,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Partnership Wealth Management LLC bought a new position in Alphabet during the fourth quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet during the fourth quarter valued at $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet during the fourth quarter valued at $34,000. Finally, Richardson Financial Services Inc. bought a new position in Alphabet during the fourth quarter valued at $34,000. Institutional investors own 27.26% of the company’s stock.
Alphabet Stock Up 1.3 %
GOOG traded up $2.19 on Friday, hitting $165.36. The company had a trading volume of 7,718,440 shares, compared to its average volume of 20,421,271. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day moving average price of $177.60 and a 200-day moving average price of $163.66. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.
Analysts Set New Price Targets
Several research firms have recently issued reports on GOOG. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. Oppenheimer raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $182.86.
Check Out Our Latest Report on Alphabet
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Insiders sold 121,608 shares of company stock valued at $21,567,504 in the last quarter. 12.99% 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.
Featured Articles
- Five stocks we like better than Alphabet
- Retail Stocks Investing, Explained
- Warren Buffett’s Recent Stock Moves: Top Buys and Sells to Watch
- What Are Dividends? Buy the Best Dividend Stocks
- Sea Limited’s E-Commerce and Fintech Strength Fuel Stock Surge
- How to Calculate Stock Profit
- Lockheed Martin’s Sky-High Surge: Buy Now or Wait for a Landing?
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.