Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Connective Portfolio Management LLC

Connective Portfolio Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the information services provider’s stock after selling 710 shares during the quarter. Alphabet accounts for 1.5% of Connective Portfolio Management LLC’s portfolio, making the stock its 29th biggest holding. Connective Portfolio Management LLC’s holdings in Alphabet were worth $984,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LMR Partners LLP purchased a new position in Alphabet in the third quarter valued at about $32,000. Denver PWM LLC purchased a new position in Alphabet in the 2nd quarter valued at approximately $41,000. Quarry LP acquired a new position in Alphabet during the second quarter worth $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in Alphabet in the third quarter valued at $66,000. Finally, Mendota Financial Group LLC increased its position in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 1.6 %

Shares of GOOGL opened at $196.00 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42. The stock has a market cap of $2.40 trillion, a PE ratio of 25.99, a P/E/G ratio of 1.22 and a beta of 0.98. The stock’s 50-day moving average is $184.08 and its two-hundred day moving average is $173.33.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business earned $1.55 EPS. Equities analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Stifel Nicolaus lifted their price objective on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.15.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 in the last ninety days. Insiders own 11.55% of the company’s stock.

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.