Alphabet Inc. $GOOG Shares Purchased by CORDA Investment Management LLC.

Key Points

• CORDA Investment Management LLC increased its stake in Alphabet Inc. by 16.8%, acquiring a total of 13,769 shares valued at approximately $2.44 million.
• CEO Sundar Pichai sold 32,500 shares of Alphabet stock for about $8.13 million, reducing his ownership by 1.35%.
• Alphabet's recent earnings report showed a revenue increase of 13.8% year-over-year, with net earnings of $2.31 per share, surpassing analysts' expectations.

CORDA Investment Management LLC. lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,769 shares of the information services provider's stock after purchasing an additional 1,982 shares during the period. CORDA Investment Management LLC.'s holdings in Alphabet were worth $2,442,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ACT Advisors LLC. lifted its stake in shares of Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock valued at $288,000 after purchasing an additional 55 shares during the period. LongView Wealth Management increased its holdings in Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock valued at $909,000 after acquiring an additional 56 shares in the last quarter. Kooman & Associates increased its holdings in Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock valued at $732,000 after acquiring an additional 56 shares in the last quarter. Colton Groome Financial Advisors LLC increased its holdings in Alphabet by 3.4% during the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock valued at $309,000 after acquiring an additional 57 shares in the last quarter. Finally, Brueske Advisory Services LLC increased its holdings in Alphabet by 2.7% during the 2nd quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock valued at $389,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company's stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 in the last quarter. Insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent research reports. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, October 8th. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research raised their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Finally, Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $246.26.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $252.53 on Thursday. The company has a market cap of $3.05 trillion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50-day simple moving average of $235.22 and a 200-day simple moving average of $194.81.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Alphabet's revenue was up 13.8% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Company 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.

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