TD Asset Management Inc Buys 11,261 Shares of Alphabet Inc. (NASDAQ:GOOG)

TD Asset Management Inc raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,619,104 shares of the information services provider’s stock after buying an additional 11,261 shares during the quarter. Alphabet accounts for about 0.8% of TD Asset Management Inc’s portfolio, making the stock its 26th largest position. TD Asset Management Inc’s holdings in Alphabet were worth $847,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Partnership Wealth Management LLC bought a new position in Alphabet during the fourth quarter worth about $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $34,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet during the 2nd quarter valued at about $37,000. Hoese & Co LLP grew its position in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $48,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOG shares. Oppenheimer lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday. TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Trading Down 4.1 %

Alphabet stock opened at $152.13 on Friday. The company has a market cap of $1.88 trillion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 1.22 and a beta of 1.05. The firm has a 50-day moving average of $172.50 and a 200-day moving average of $165.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,532 shares of company stock worth $34,055,874. Insiders own 12.99% of the company’s stock.

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.