Charter Oak Capital Management LLC Sells 312 Shares of Alphabet Inc. (NASDAQ:GOOG)

Charter Oak Capital Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,025 shares of the information services provider’s stock after selling 312 shares during the period. Charter Oak Capital Management LLC’s holdings in Alphabet were worth $941,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GOOG. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. LSV Asset Management bought a new position in Alphabet in the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new position in Alphabet in the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet in the 4th quarter worth approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,770 shares of company stock worth $32,036,638. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $174.92 on Friday. The company has a fifty day moving average price of $161.88 and a 200 day moving average price of $176.05. The firm has a market cap of $2.12 trillion, a PE ratio of 21.73, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent research reports. Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Scotiabank dropped their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet 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.