Alphabet Inc. $GOOG Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in Alphabet Inc. by 6.3% during the second quarter, owning over 4.1 million shares valued at approximately $741 million.
• Insider activity showed significant sales, with John Kent Walker selling 17,816 shares, representing a 29.3% decrease in ownership, which hints at potential shifts in insider confidence.
• Alphabet recently declared a quarterly dividend of $0.21 per share, translating into an annualized yield of 0.3% for investors.

TD Asset Management Inc boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,179,326 shares of the information services provider's stock after acquiring an additional 246,622 shares during the quarter. TD Asset Management Inc's holdings in Alphabet were worth $741,371,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. IFS Advisors LLC raised its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley raised its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter valued at approximately $26,000. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company's stock, valued at $10,635,348.70. This trade represents a 29.30% 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, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares of the company's stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,372 shares of company stock valued at $55,110,740. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG opened at $253.79 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.07 trillion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company's 50 day simple moving average is $232.18 and its 200-day simple moving average is $192.73. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $257.58.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its 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. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent analyst reports. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price target on shares of Alphabet in a research note on Wednesday, September 3rd. Hsbc Global Res upgraded shares of Alphabet to a "strong-buy" rating in a research note on Tuesday, October 7th. Finally, Scotiabank restated an "outperform" rating and set a $310.00 target price on shares of Alphabet in a research report on Thursday. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $244.68.

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.

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