Connecticut Capital Management Group LLC Invests $979,000 in Alphabet Inc. $GOOG

Key Points

• Connecticut Capital Management Group LLC disclosed a new position in Alphabet (GOOG), buying 3,120 shares worth about $979,000 in the fourth quarter. Alphabet now represents about 0.9% of the firm’s portfolio and is its 25th-largest holding.
• Alphabet recently secured a major cloud-computing deal with SpaceX, reported to be worth about $920 million per month for 32 months, which could provide a significant boost to Google Cloud revenue.
• The company reported strong quarterly results, with EPS of $5.11 and revenue of $109.9 billion, both ahead of expectations. Alphabet also raised its quarterly dividend to $0.22 per share from $0.21, while analysts maintained an overall Buy rating on the stock.

Connecticut Capital Management Group LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,120 shares of the information services provider's stock, valued at approximately $979,000. Alphabet makes up about 0.9% of Connecticut Capital Management Group LLC's investment portfolio, making the stock its 25th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nvest Wealth Strategies Inc. acquired a new position in Alphabet in the 4th quarter valued at about $38,000. Imprint Wealth LLC acquired a new position in Alphabet in the 3rd quarter valued at about $31,000. Towne Trust Company N.A increased its position in Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after acquiring an additional 34 shares during the period. Creative Capital Management Investments LLC increased its position in Alphabet by 1,438.5% in the 4th quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider's stock valued at $63,000 after acquiring an additional 187 shares during the period. Finally, Optima Capital LLC acquired a new position in Alphabet in the 4th quarter valued at about $79,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet signed a major cloud-computing agreement with SpaceX, with reports putting the deal at about $920 million per month for 32 months, which could provide a meaningful revenue stream and reinforce demand for Google Cloud. Article Title
• Positive Sentiment: Alphabet’s municipal-bond debut drew strong investor demand, suggesting institutions still view the company as a high-quality borrower with flexible financing options. Article Title
• Positive Sentiment: Some investors and analysts said the equity raise is a strategic move to accelerate AI infrastructure and may help Alphabet defend and expand its long-term leadership in search, cloud, and AI. Article Title
• Neutral Sentiment: Alphabet also appeared in commentary about AI-related partnerships, including potential indirect benefits from the SpaceX IPO and other cloud collaborations, but these are mostly longer-term strategic themes rather than immediate catalysts. Article Title
• Negative Sentiment: Wall Street coverage focused heavily on Alphabet’s expanding capital expenditures, with some commentators warning that the AI buildout may be getting too expensive and could pressure free cash flow. Article Title

Analyst Ratings Changes

Several brokerages recently issued reports on GOOG. Needham & Company LLC set a $400.00 price target on Alphabet and gave the company a "buy" rating in a research report on Friday, March 13th. Oppenheimer boosted their price target on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Freedom Capital cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. TD Cowen restated a "buy" rating on shares of Alphabet in a research report on Thursday, May 21st. Finally, Truist Financial set a $430.00 target price on Alphabet in a research report on Monday. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $376.00.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director owned 2,531 shares of the company's stock, valued at $995,341.06. The trade was a 29.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 193,016 shares of company stock worth $17,282,549. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $365.76 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $350.06 and its two-hundred day moving average is $327.07. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47. The stock has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.58 and a beta of 1.22.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.96 billion. During the same quarter in the previous year, the firm posted $2.81 EPS. The firm's quarterly revenue was up 21.8% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio is presently 6.41%.

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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