Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by AGF Management Ltd.

AGF Management Ltd. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 23.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 675,592 shares of the information services provider’s stock after selling 210,764 shares during the quarter. AGF Management Ltd.’s holdings in Alphabet were worth $123,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC acquired a new stake in Alphabet during the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the fourth quarter worth about $30,000. Finally, Denver PWM LLC acquired a new stake in Alphabet during the second quarter worth about $41,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The disclosure for this sale can be found here. Insiders have sold a total of 180,867 shares of company stock worth $29,878,106 in the last three months. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Mizuho upped their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, August 30th. DA Davidson began coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, TD Securities increased their target price on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Trading Up 0.3 %

Shares of NASDAQ GOOGL opened at $162.29 on Wednesday. The company has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $163.80 and its 200 day simple moving average is $166.17.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the business posted $1.44 EPS. Equities research analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Alphabet Company 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.