Chickasaw Capital Management LLC Sells 70 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Chickasaw Capital Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the first quarter, Holdings Channel reports. The firm owned 23,488 shares of the information services provider’s stock after selling 70 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Alphabet were worth $3,632,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Compass Planning Associates Inc purchased a new stake in Alphabet in the fourth quarter worth $30,000. Fiduciary Advisors Inc. purchased a new position in Alphabet during the fourth quarter valued at $39,000. PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet in the 4th quarter worth about $49,000. Finally, Navigoe LLC purchased a new stake in shares of Alphabet in the 4th quarter worth about $51,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.6%

Shares of NASDAQ:GOOGL opened at $169.03 on Tuesday. The stock’s 50-day simple moving average is $159.18 and its two-hundred day simple moving average is $174.53. The stock has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the prior year, the business earned $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent research reports. Mizuho lowered their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Wedbush set a $190.00 target price on shares of Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Roth Mkm reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. DA Davidson cut their price target on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Wells Fargo & Company raised their price objective on Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,270 shares of company stock worth $26,553,563 in the last 90 days. 11.64% of the stock is currently owned by insiders.

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.