Connecticut Wealth Management LLC Buys 7,797 Shares of Alphabet Inc. (NASDAQ:GOOG)

Connecticut Wealth Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 33.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,038 shares of the information services provider’s stock after acquiring an additional 7,797 shares during the quarter. 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 (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the fourth quarter valued at about $26,000. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $25,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $32,000. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet in the third quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

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

Alphabet Price Performance

Shares of NASDAQ:GOOG traded up $0.17 on Monday, hitting $169.16. The company had a trading volume of 9,654,875 shares, compared to its average volume of 22,685,658. The company has a market cap of $2.09 trillion, a PE ratio of 25.86, a PEG ratio of 1.26 and a beta of 1.02. The business has a 50 day moving average of $151.46 and a 200 day moving average of $143.74. Alphabet Inc. has a 52-week low of $105.79 and a 52-week high of $176.42. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its 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. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the business earned $1.17 earnings per share. Alphabet’s revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares in the company, valued at approximately $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 275,129 shares of company stock valued at $40,382,765. 12.99% of the stock is currently owned by company 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.