Chatham Capital Group Inc. Sells 79 Shares of Alphabet Inc. (NASDAQ:GOOG)

Chatham Capital Group Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 51,650 shares of the information services provider’s stock after selling 79 shares during the period. Alphabet makes up 1.4% of Chatham Capital Group Inc.’s investment portfolio, making the stock its 14th largest position. Chatham Capital Group Inc.’s holdings in Alphabet were worth $7,864,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GOOG. Norges Bank bought a new position in Alphabet in the 4th quarter worth about $4,101,040,000. JPMorgan Chase & Co. boosted its stake in Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC bought a new position in Alphabet in the 4th quarter worth about $11,600,970,000. Cerity Partners LLC boosted its stake in Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after purchasing an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after purchasing an additional 2,222,950 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 143,026 shares of company stock worth $24,026,243 over the last three months. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

GOOG opened at $183.42 on Monday. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $187.50. The stock has a market capitalization of $2.27 trillion, a P/E ratio of 28.13, a P/E/G ratio of 1.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company’s 50-day simple moving average is $174.40 and its two-hundred day simple moving average is $155.84.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 EPS. As a group, analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GOOG shares. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

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.