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

Charter Oak Capital Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,337 shares of the information services provider’s stock after buying an additional 272 shares during the period. Charter Oak Capital Management LLC’s holdings in Alphabet were worth $1,207,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Weiss Asset Management LP purchased a new position in shares of Alphabet during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the last quarter. Iron Horse Wealth Management LLC boosted its position 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 purchasing an additional 84 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $76,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GOOG. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. UBS Group raised their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $206.69.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $202.63 on Friday. The stock has a market cap of $2.48 trillion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 1.27 and a beta of 0.99. The stock’s 50-day moving average is $189.03 and its 200 day moving average is $175.35. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $203.84.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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. 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 analyst estimates of $86.39 billion. During the same period in the previous year, the business posted $1.55 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,630 shares of company stock valued at $22,258,133 over the last three months. Insiders own 12.99% 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.