Tevis Investment Management Has $2.15 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Tevis Investment Management boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 34.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,257 shares of the information services provider’s stock after buying an additional 3,656 shares during the quarter. Alphabet makes up 1.8% of Tevis Investment Management’s holdings, making the stock its 16th biggest holding. Tevis Investment Management’s holdings in Alphabet were worth $2,152,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. RWQ Financial Management Services Inc. raised its stake in shares of Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the last quarter. Picton Mahoney Asset Management increased its position in Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley increased its position in shares of Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after buying an additional 118 shares during the period. Nebula Research & Development LLC bought a new position in shares of Alphabet in the 4th quarter worth about $787,000. Finally, Quantum Financial Advisors LLC increased its holdings in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The disclosure for this sale can be found here. Insiders sold 143,026 shares of company stock valued at $24,026,243 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $182.15 on Monday. The firm has a market cap of $2.25 trillion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01. 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 company’s 50 day moving average is $172.85 and its 200-day moving average is $154.44. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $186.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio is currently 12.27%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday. Truist Financial boosted their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Stifel Nicolaus reiterated a “buy” rating and set a $196.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Wedbush increased their price objective on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $193.66.

About Alphabet

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.