Tevis Investment Management Increases Holdings in Alphabet Inc. $GOOGL

Tevis Investment Management boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 35.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 20,847 shares of the information services provider’s stock after buying an additional 5,475 shares during the quarter. Alphabet accounts for about 2.4% of Tevis Investment Management’s holdings, making the stock its 10th largest position. Tevis Investment Management’s holdings in Alphabet were worth $3,674,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mystic Asset Management Inc. raised its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after purchasing an additional 1,791 shares during the period. Bridgeway Capital Management LLC boosted its holdings in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after buying an additional 13,371 shares during the period. Alaethes Wealth LLC increased its stake in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares in the last quarter. Moment Partners LLC raised its holdings in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after acquiring an additional 504 shares during the period. Finally, Blackhawk Capital Partners LLC. raised its holdings in Alphabet by 8.4% during the first quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock valued at $4,832,000 after acquiring an additional 2,434 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $278.83 on Friday. The firm has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $251.23 and a 200-day simple moving average of $204.56. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This represents a 6.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 222,396 shares of company stock worth $54,105,275. 11.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOOGL. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price objective (up previously from $285.00) on shares of Alphabet in a research note on Thursday, October 30th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. BMO Capital Markets set a $294.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. Wolfe Research reiterated an “outperform” rating and set a $350.00 price objective (up previously from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Moffett Nathanson boosted their target price on shares of Alphabet from $295.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

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.