Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 128.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,650 shares of the information services provider's stock after purchasing an additional 37,523 shares during the period. Alphabet makes up about 0.6% of Connecticut Wealth Management LLC's portfolio, making the stock its 26th biggest position. Connecticut Wealth Management LLC's holdings in Alphabet were worth $12,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Sterling Financial Planning Inc. lifted its holdings in Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC lifted its holdings in shares of Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock worth $2,747,000 after buying an additional 52 shares in the last quarter. Harrell Investment Partners LLC boosted its position in shares of Alphabet by 0.9% in the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider's stock valued at $1,078,000 after acquiring an additional 53 shares during the period. Ethos Financial Group LLC grew its stake in shares of Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after acquiring an additional 53 shares in the last quarter. Finally, Hutchinson Capital Management CA increased its position in Alphabet by 1.5% during the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This represents a 8.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,744 shares of company stock worth $20,968,366 over the last 90 days. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

NASDAQ GOOG opened at $170.06 on Thursday. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company's 50 day moving average is $160.23 and its two-hundred day moving average is $176.62. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The business's revenue was up 12.0% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.49%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOG. UBS Group cut their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Westpark Capital reiterated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, Scotiabank reduced their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $203.94.

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.

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