TD Asset Management Inc boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,751,739 shares of the information services provider's stock after buying an additional 48,574 shares during the quarter. Alphabet makes up approximately 0.9% of TD Asset Management Inc's holdings, making the stock its 24th largest holding. TD Asset Management Inc's holdings in Alphabet were worth $1,013,629,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Frazier Financial Advisors LLC lifted its holdings in Alphabet by 8.1% during the 2nd quarter. Frazier Financial Advisors LLC now owns 1,560 shares of the information services provider's stock worth $275,000 after buying an additional 117 shares in the last quarter. IFC Advisors LLC lifted its holdings in Alphabet by 3.0% during the 2nd quarter. IFC Advisors LLC now owns 37,070 shares of the information services provider's stock worth $6,533,000 after buying an additional 1,065 shares in the last quarter. Founders Grove Wealth Partners LLC lifted its holdings in Alphabet by 17.3% during the 2nd quarter. Founders Grove Wealth Partners LLC now owns 4,752 shares of the information services provider's stock worth $837,000 after buying an additional 700 shares in the last quarter. Morningstar Investment Management LLC lifted its holdings in Alphabet by 18.1% during the 2nd quarter. Morningstar Investment Management LLC now owns 358,015 shares of the information services provider's stock worth $63,093,000 after buying an additional 54,808 shares in the last quarter. Finally, Perfromance Wealth Partners LLC lifted its holdings in Alphabet by 1.6% during the 2nd quarter. Perfromance Wealth Partners LLC now owns 41,824 shares of the information services provider's stock worth $7,371,000 after buying an additional 639 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction dated Monday, September 29th. The shares were 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 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 disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 in the last three months. Insiders own 11.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on GOOGL. Sanford C. Bernstein increased their price target on Alphabet from $210.00 to $260.00 and gave the company a "market perform" rating in a research note on Wednesday. New Street Research increased their price target on Alphabet from $275.00 to $295.00 in a research note on Friday. JPMorgan Chase & Co. restated a "buy" rating on shares of Alphabet in a research report on Tuesday, October 14th. Loop Capital upped their price objective on shares of Alphabet from $190.00 to $260.00 and gave the company a "hold" rating in a research report on Friday. Finally, Mizuho set a $295.00 target price on Alphabet and gave the stock an "outperform" rating in a report on Monday, September 29th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $263.20.
Check Out Our Latest Stock Analysis on GOOGL
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $259.92 on Friday. The stock has a market capitalization of $3.14 trillion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.71 and a beta of 1.00. The business has a 50-day moving average of $236.72 and a 200-day moving average of $195.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $261.68.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
About Alphabet
(
Free Report)
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.
See Also
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