Cherokee Insurance Co Invests $497,000 in Alphabet Inc. $GOOG

Cherokee Insurance Co acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,800 shares of the information services provider’s stock, valued at approximately $497,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. IFS Advisors LLC increased its holdings in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the period. Robbins Farley grew its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its stake in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. Fairman Group LLC raised its holdings in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Finally, Horrell Capital Management Inc. boosted its position in shares of Alphabet by 100.0% during the 2nd quarter. Horrell Capital Management Inc. now owns 200 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOG. Jefferies Financial Group upped their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a report on Thursday, October 30th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. KeyCorp reissued an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Finally, Sanford C. Bernstein raised their price target on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Trading Down 1.5%

NASDAQ:GOOG opened at $287.43 on Thursday. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 28.35, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $256.07 and a 200 day moving average of $208.20. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $292.36.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 221,796 shares of company stock worth $53,983,001. Corporate insiders own 12.99% of the company’s stock.

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.