Chickasaw Capital Management LLC Grows Stake in Alphabet Inc. $GOOGL

Key Points

• Chickasaw Capital Management LLC has increased its position in Alphabet Inc. by 6.2%, acquiring an additional 1,450 shares, bringing their total holdings to 24,938 shares valued at approximately $4.4 million.
• Alphabet's stock experienced a 1.1% increase, with shares trading at $254.72, reaching a one-year high of $256.00 and a low of $140.53.
• In its latest quarterly results, Alphabet reported earnings per share of $2.31, surpassing analysts' expectations by $0.16, with revenue totaling $96.43 billion for the quarter.

Chickasaw Capital Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,938 shares of the information services provider's stock after purchasing an additional 1,450 shares during the quarter. Chickasaw Capital Management LLC's holdings in Alphabet were worth $4,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the first quarter valued at $28,000. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet during the first quarter valued at $39,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,088 shares of company stock worth $52,405,304. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.1%

Shares of NASDAQ:GOOGL traded up $2.69 during trading on Friday, hitting $254.72. The company had a trading volume of 55,452,697 shares, compared to its average volume of 38,316,584. The stock has a market cap of $3.08 trillion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The company has a fifty day simple moving average of $209.36 and a two-hundred day simple moving average of $180.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. UBS Group upped their price objective on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Sanford C. Bernstein increased their target price on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC increased their target price on Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $225.54.

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.