Connective Capital Management LLC Makes New $1.25 Million Investment in Alphabet Inc. $GOOGL

Connective Capital Management LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,094 shares of the information services provider’s stock, valued at approximately $1,250,000. Alphabet makes up approximately 1.2% of Connective Capital Management LLC’s portfolio, making the stock its 24th biggest position.

Other large investors also recently bought and sold shares of the company. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Alphabet in the 2nd quarter worth $31,000. CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. Christopher J. Hasenberg Inc raised its position in Alphabet by 77.6% during the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after acquiring an additional 152 shares during the period. Finally, S&T Bank PA lifted its holdings in Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $321.27 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The stock’s fifty day moving average is $276.15 and its two-hundred day moving average is $224.51. The firm has a market capitalization of $3.88 trillion, a P/E ratio of 31.68, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $328.83.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. The Goldman Sachs Group boosted their price objective on Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Morgan Stanley raised their target price on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Truist Financial set a $350.00 price objective on Alphabet and gave the company a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $312.65.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the sale, the director owned 18,104 shares of the company’s stock, valued at $5,750,916.64. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the sale, the director owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 226,128 shares of company stock worth $61,326,372. Corporate insiders own 11.64% of the company’s stock.

Alphabet Company Profile

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.