Chickasaw Capital Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 44.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,643 shares of the information services provider's stock after acquiring an additional 7,018 shares during the quarter. Chickasaw Capital Management LLC's holdings in Alphabet were worth $3,418,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter worth $15,441,917,000. FMR LLC lifted its position in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider's stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider's stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado grew its position in shares of Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider's stock valued at $841,725,000 after purchasing an additional 6,010,548 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider's stock worth $7,606,670,000 after buying an additional 5,336,359 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Down 1.2 %
Shares of NASDAQ:GOOGL traded down $2.15 during midday trading on Wednesday, hitting $175.09. The stock had a trading volume of 21,869,857 shares, compared to its average volume of 21,406,588. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business's 50-day simple moving average is $169.28 and its 200-day simple moving average is $151.89. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.41. The company has a market cap of $2.16 trillion, a P/E ratio of 26.85, a PEG ratio of 1.33 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analysts' expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the firm posted $1.17 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet's payout ratio is 12.27%.
Insider Transactions at Alphabet
In other news, insider John Kent Walker sold 12,084 shares of the business's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the sale, the insider now owns 48,717 shares of the company's stock, valued at $7,365,523.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider John Kent Walker sold 12,084 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,958 shares of company stock worth $22,383,553. Company insiders own 11.55% of the company's stock.
Analyst Ratings Changes
Several equities analysts have commented on the company. Canaccord Genuity Group upped their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Friday, April 26th. KeyCorp lifted their price target on shares of Alphabet from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, April 22nd. Robert W. Baird increased their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 26th. Wedbush lifted their target price on shares of Alphabet from $175.00 to $205.00 and gave the company an "outperform" rating in a research report on Friday, April 26th. Finally, Truist Financial raised their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $193.26.
Check Out Our Latest Research Report on GOOGL
Alphabet Company Profile
(
Free Report)
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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