TD Asset Management Inc Reduces Stake in Alphabet Inc. $GOOGL

TD Asset Management Inc trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,878,557 shares of the information services provider’s stock after selling 771,564 shares during the quarter. Alphabet accounts for approximately 2.1% of TD Asset Management Inc’s portfolio, making the stock its 7th largest holding. TD Asset Management Inc owned about 0.06% of Alphabet worth $2,458,190,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. purchased a new position in Alphabet during the fourth quarter worth about $32,000. EMC Capital Management bought a new stake in Alphabet in the 4th quarter worth about $33,000. IFC & Insurance Marketing Inc. purchased a new stake in Alphabet in the 4th quarter valued at about $38,000. Bard Associates Inc. purchased a new stake in Alphabet in the 4th quarter valued at about $52,000. Finally, iSAM Funds UK Ltd bought a new position in shares of Alphabet during the 3rd quarter worth approximately $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 451,945 shares of company stock worth $12,382,714. Insiders own 11.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOGL. Canaccord Genuity Group boosted their target price on Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Barclays reiterated an “overweight” rating and set a $425.00 price target (up from $405.00) on shares of Alphabet in a report on Thursday, July 23rd. Bank of America upped their price objective on Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $425.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Susquehanna reiterated a “positive” rating and set a $460.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $420.19.

Alphabet Price Performance

Alphabet stock opened at $344.82 on Monday. Alphabet Inc. has a 12 month low of $201.30 and a 12 month high of $408.61. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $352.00 and its 200 day simple moving average is $341.35. The company has a market cap of $4.22 trillion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.97 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Sell-side analysts forecast that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 4.42%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.