Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Telos Capital Management Inc.

Posted by Defense World Staff on Oct 10th, 2023

Telos Capital Management Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,771 shares of the information services provider’s stock after selling 1,773 shares during the period. Alphabet makes up about 1.8% of Telos Capital Management Inc.’s holdings, making the stock its 11th biggest position. Telos Capital Management Inc.’s holdings in Alphabet were worth $13,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Altus Wealth Management LLC increased its position in Alphabet by 4.4% during the 2nd quarter. Altus Wealth Management LLC now owns 2,380 shares of the information services provider’s stock worth $285,000 after purchasing an additional 100 shares during the period. SkyOak Wealth LLC increased its position in Alphabet by 3.6% during the 2nd quarter. SkyOak Wealth LLC now owns 21,824 shares of the information services provider’s stock worth $2,612,000 after purchasing an additional 766 shares during the period. Cassia Capital Partners LLC increased its position in Alphabet by 16.4% during the 2nd quarter. Cassia Capital Partners LLC now owns 3,523 shares of the information services provider’s stock worth $422,000 after purchasing an additional 497 shares during the period. Scissortail Wealth Management LLC increased its position in Alphabet by 5.4% during the 2nd quarter. Scissortail Wealth Management LLC now owns 4,559 shares of the information services provider’s stock worth $556,000 after purchasing an additional 232 shares during the period. Finally, Osborne Partners Capital Management LLC increased its position in Alphabet by 1.2% during the 2nd quarter. Osborne Partners Capital Management LLC now owns 112,287 shares of the information services provider’s stock worth $13,441,000 after purchasing an additional 1,364 shares during the period. Institutional investors and hedge funds own 35.08% of the company’s stock.

Alphabet Trading Up 0.6 %

Shares of GOOGL opened at $138.42 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 29.33, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The stock’s fifty day simple moving average is $132.75 and its 200 day simple moving average is $122.01. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $139.16.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The business had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period last year, the company posted $1.21 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research analyst reports. Rosenblatt Securities boosted their price target on Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. The Goldman Sachs Group boosted their price target on Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Jefferies Financial Group boosted their price target on Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Citigroup boosted their price target on Alphabet from $130.00 to $153.00 in a research note on Wednesday, July 26th. Finally, KeyCorp boosted their price target on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $143.86.

Get Our Latest Analysis on GOOGL

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the transaction, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Ann Mather sold 220 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total value of $26,785.00. Following the transaction, the director now directly owns 4,759 shares of the company’s stock, valued at $579,408.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at $10,119,602.22. The disclosure for this sale can be found here. Insiders have sold 101,091 shares of company stock valued at $13,527,476 over the last three months. 0.88% of the stock is owned by company insiders.

About Alphabet

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.