Tevis Investment Management Buys 348 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Tevis Investment Management boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,029 shares of the information services provider’s stock after acquiring an additional 348 shares during the period. Alphabet accounts for about 1.8% of Tevis Investment Management’s holdings, making the stock its 15th biggest position. Tevis Investment Management’s holdings in Alphabet were worth $2,493,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares during the period. Capital World Investors grew its stake in Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after buying an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after acquiring an additional 418,204 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL stock opened at $181.62 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.22 trillion, a P/E ratio of 24.09, a P/E/G ratio of 1.27 and a beta of 1.03. The business’s 50 day moving average price is $163.88 and its 200-day moving average price is $169.91. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm earned $1.55 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Tigress Financial raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Finally, KeyCorp raised their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the 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 transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,752 shares of company stock valued at $40,156,829. 11.55% of the stock is currently owned by corporate insiders.

Alphabet 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.