Telos Capital Management Inc. Boosts Position in Alphabet Inc. $GOOGL

Telos Capital Management Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the second quarter, HoldingsChannel reports. The firm owned 112,477 shares of the information services provider’s stock after buying an additional 1,640 shares during the period. Alphabet comprises about 2.0% of Telos Capital Management Inc.’s portfolio, making the stock its 9th biggest holding. Telos Capital Management Inc.’s holdings in Alphabet were worth $19,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC purchased a new position in Alphabet in the first quarter worth $4,317,606,000. Vanguard Group Inc. raised its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Amundi lifted its stake in Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. boosted its holdings in shares of Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after purchasing an additional 2,565,400 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction 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 sale, the chief executive officer owned 2,337,119 shares in the company, valued at $662,526,494.12. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. 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 11.64% of the company’s stock.

Alphabet Trading Down 0.8%

Shares of GOOGL opened at $276.41 on Friday. The stock has a market capitalization of $3.34 trillion, a P/E ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $292.01. 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 firm has a fifty day simple moving average of $257.24 and a two-hundred day simple moving average of $208.59.

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

Alphabet Dividend Announcement

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%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOOGL. DA Davidson raised their price objective on Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Moffett Nathanson lifted their price target on shares of Alphabet from $295.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $290.00 price objective on shares of Alphabet in a research note on Wednesday, October 22nd. Wall Street Zen upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Melius Research boosted their price target on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have issued a Hold 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 $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.