Tevis Investment Management Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Tevis Investment Management lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,681 shares of the information services provider’s stock after acquiring an additional 424 shares during the quarter. Alphabet comprises approximately 2.1% of Tevis Investment Management’s portfolio, making the stock its 11th largest holding. Tevis Investment Management’s holdings in Alphabet were worth $2,674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the 4th quarter valued at about $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the period. Finally, Richardson Capital Management LLC boosted its position in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GOOGL shares. Wolfe Research started coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Roth Mkm reiterated a “buy” rating and issued a $206.00 target price on shares of Alphabet in a research note on Thursday. Loop Capital restated a “hold” rating and set a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, UBS Group upped their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.74.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,565 shares of company stock valued at $26,823,893. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $161.78 on Friday. The stock’s 50-day simple moving average is $174.06 and its two-hundred day simple moving average is $163.55. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The firm has a market capitalization of $2.00 trillion, a P/E ratio of 24.81, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the business earned $1.44 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

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.