Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Increased by Connective Portfolio Management LLC

Connective Portfolio Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 488.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the information services provider’s stock after acquiring an additional 4,150 shares during the period. Alphabet comprises approximately 1.6% of Connective Portfolio Management LLC’s holdings, making the stock its 28th largest position. Connective Portfolio Management LLC’s holdings in Alphabet were worth $493,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in Alphabet by 1,884.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock valued at $1,714,333,000 after purchasing an additional 17,019,726 shares in the last quarter. Fiera Capital Corp grew its position in Alphabet by 1,957.3% during the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock valued at $1,945,783,000 after purchasing an additional 16,989,271 shares in the last quarter. Nordea Investment Management AB grew its position in Alphabet by 1,830.2% during the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock valued at $1,605,074,000 after purchasing an additional 15,633,495 shares in the last quarter. Raymond James & Associates grew its position in Alphabet by 1,927.0% during the third quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock valued at $792,433,000 after purchasing an additional 7,875,993 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Alphabet by 1,876.5% in the third quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock worth $685,817,000 after acquiring an additional 6,807,300 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on GOOGL. KeyCorp decreased their target price on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, October 25th. Robert W. Baird reduced their price objective on shares of Alphabet to $120.00 in a research note on Thursday, October 27th. Susquehanna Bancshares reduced their price objective on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday, October 26th. Rosenblatt Securities reduced their price objective on shares of Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Finally, Sanford C. Bernstein cut their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Alphabet Stock Up 5.3 %

GOOGL opened at $98.02 on Friday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The company has a market capitalization of $1.27 trillion, a P/E ratio of 19.47, a P/E/G ratio of 1.62 and a beta of 1.09. The stock has a fifty day moving average of $93.03 and a 200-day moving average of $101.55.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $57.27 billion for the quarter, compared to analyst estimates of $58.36 billion. During the same period in the prior year, the business posted $1.40 EPS. On average, equities analysts expect that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 280 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the sale, the director now owns 11,200 shares in the company, valued at $1,156,176. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 11.44% of the stock is owned by insiders.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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