TD Asset Management Inc Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

TD Asset Management Inc trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,932,704 shares of the information services provider’s stock after selling 225,613 shares during the period. TD Asset Management Inc’s holdings in Alphabet were worth $614,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $26,000. LSV Asset Management bought a new position in shares of Alphabet during the 4th quarter valued at approximately $27,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $32,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $38,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG opened at $194.08 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $176.86 and its 200-day simple moving average is $174.67. The company has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Scotiabank boosted their target price on Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.19.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company’s stock, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 in the last three months. 12.99% of the stock is owned by 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.