Alphabet Inc. $GOOG Shares Bought by Chatham Capital Group Inc.

Key Points

• Chatham Capital Group Inc. increased its stake in Alphabet Inc. by 4.5% during the second quarter, now holding 56,882 shares valued at approximately $10,090,000.
• Insiders sold a total of 257,866 shares of Alphabet stock in the last quarter, including CEO Sundar Pichai, who sold 32,500 shares for over $8 million.
• Alphabet reported a quarterly revenue of $96.43 billion and earnings per share of $2.31, surpassing analysts' expectations.

Chatham Capital Group Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,882 shares of the information services provider's stock after acquiring an additional 2,425 shares during the quarter. Alphabet accounts for about 1.5% of Chatham Capital Group Inc.'s investment portfolio, making the stock its 14th largest holding. Chatham Capital Group Inc.'s holdings in Alphabet were worth $10,090,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Sage Rhino Capital LLC grew its position in shares of Alphabet by 9.4% during the second quarter. Sage Rhino Capital LLC now owns 21,029 shares of the information services provider's stock worth $3,730,000 after buying an additional 1,808 shares in the last quarter. Western Financial Corp CA grew its position in shares of Alphabet by 4.9% during the second quarter. Western Financial Corp CA now owns 2,427 shares of the information services provider's stock worth $430,000 after buying an additional 113 shares in the last quarter. LVW Advisors LLC grew its position in shares of Alphabet by 6.2% during the second quarter. LVW Advisors LLC now owns 39,709 shares of the information services provider's stock worth $7,044,000 after buying an additional 2,320 shares in the last quarter. TOWER TRUST & INVESTMENT Co grew its position in shares of Alphabet by 1.1% during the second quarter. TOWER TRUST & INVESTMENT Co now owns 21,557 shares of the information services provider's stock worth $3,824,000 after buying an additional 239 shares in the last quarter. Finally, Signature Resources Capital Management LLC grew its position in shares of Alphabet by 3.4% during the second quarter. Signature Resources Capital Management LLC now owns 6,290 shares of the information services provider's stock worth $1,116,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. The trade was a 9.50% 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 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,866 shares of company stock valued at $52,363,610. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

GOOG stock opened at $244.36 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.67 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The stock's fifty day moving average is $217.67 and its two-hundred day moving average is $185.06.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the business posted $1.89 earnings per share. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOOG. The Goldman Sachs Group reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, KeyCorp set a $265.00 price objective on Alphabet in a research note on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.35.

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.

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