Connecticut Wealth Management LLC Has $4.37 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Connecticut Wealth Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 33.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,038 shares of the information services provider’s stock after acquiring an additional 7,797 shares during the period. Connecticut Wealth Management LLC’s holdings in Alphabet were worth $4,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. FMR LLC boosted its stake in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the period. Northern Trust Corp grew its stake in Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after buying an additional 1,275,060 shares during the last quarter. Sanders Capital LLC lifted its position in Alphabet by 0.3% during the third quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after acquiring an additional 92,741 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Alphabet by 2.0% during the third quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock worth $2,613,557,000 after acquiring an additional 390,118 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG traded up $0.17 during mid-day trading on Monday, hitting $169.16. The stock had a trading volume of 9,654,875 shares, compared to its average volume of 22,685,658. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market cap of $2.09 trillion, a P/E ratio of 25.86, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a 52 week low of $105.79 and a 52 week high of $176.42. The business has a fifty day moving average price of $151.46 and a 200-day moving average price of $143.74.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet 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 completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction 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 completion of 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,129 shares of company stock worth $40,382,765. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $165.67.

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.