Alphabet Inc. (NASDAQ:GOOG) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,158,317 shares of the information services provider's stock after selling 375,472 shares during the period. Alphabet comprises 0.7% of TD Asset Management Inc.'s portfolio, making the stock its 29th largest holding. TD Asset Management Inc.'s holdings in Alphabet were worth $791,910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Alphabet in the 4th quarter valued at approximately $1,551,533,000. GQG Partners LLC lifted its position in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after acquiring an additional 7,221,746 shares in the last quarter. FMR LLC boosted its stake in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Proficio Capital Partners LLC increased its position in Alphabet by 5,712.8% during the 4th quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider's stock worth $831,810,000 after purchasing an additional 4,292,689 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Remove Ads

Alphabet Stock Up 1.7 %

Shares of GOOG traded up $2.86 during mid-day trading on Tuesday, reaching $172.79. 13,811,344 shares of the stock traded hands, compared to its average volume of 17,855,898. The stock has a fifty day simple moving average of $183.56 and a 200 day simple moving average of $178.44. Alphabet Inc. has a 12-month low of $148.20 and a 12-month high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet's dividend payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 in the last three months. Corporate insiders own 12.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a "neutral" rating on shares of Alphabet in a research note on Wednesday, March 19th. Wedbush restated an "outperform" rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Benchmark restated a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $209.13.

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.