Charter Oak Capital Management LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Charter Oak Capital Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,337 shares of the information services provider’s stock after acquiring an additional 272 shares during the period. Charter Oak Capital Management LLC’s holdings in Alphabet were worth $1,207,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Weiss Asset Management LP purchased a new stake in Alphabet in the third quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth about $33,000. Sanctuary Wealth Management L.L.C. increased its stake in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after acquiring an additional 84 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in Alphabet in the fourth quarter worth about $76,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,630 shares of company stock valued at $22,258,133. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $202.63 on Friday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The firm has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $189.03 and a 200 day moving average of $175.35.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citigroup raised their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $206.69.

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.