TD Private Client Wealth LLC Has $14.89 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• TD Private Client Wealth LLC has reduced its stake in Alphabet Inc. by 14.2%, now holding 84,501 shares valued at approximately $14.89 million.
• Several analysts have increased their price targets for Alphabet, with Citigroup setting a new target of $280.00 and Piper Sandler adjusting theirs to $285.00.
• Alphabet recently announced a quarterly dividend of $0.21 per share, marking a yield of 0.3% and a payout ratio of 8.95%.

TD Private Client Wealth LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,501 shares of the information services provider's stock after selling 13,970 shares during the period. TD Private Client Wealth LLC's holdings in Alphabet were worth $14,892,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Mather Group LLC. increased its position in shares of Alphabet by 2.6% during the 2nd quarter. Mather Group LLC. now owns 57,958 shares of the information services provider's stock worth $10,214,000 after purchasing an additional 1,457 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its stake in shares of Alphabet by 8.3% in the second quarter. Foster Victor Wealth Advisors LLC now owns 145,079 shares of the information services provider's stock valued at $25,624,000 after buying an additional 11,083 shares in the last quarter. Evanson Asset Management LLC increased its holdings in Alphabet by 0.7% during the second quarter. Evanson Asset Management LLC now owns 198,157 shares of the information services provider's stock worth $34,921,000 after buying an additional 1,389 shares during the last quarter. Peddock Capital Advisors LLC raised its position in Alphabet by 0.8% during the second quarter. Peddock Capital Advisors LLC now owns 33,521 shares of the information services provider's stock worth $5,907,000 after acquiring an additional 281 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. raised its position in Alphabet by 2.0% during the second quarter. StoneCrest Wealth Management Inc. now owns 24,011 shares of the information services provider's stock worth $4,231,000 after acquiring an additional 463 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the subject of a number of analyst reports. Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Citigroup raised their target price on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Piper Sandler boosted their price target on Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Bank of America upped their price objective on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, JMP Securities lifted their target price on Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.44.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,088 shares of company stock worth $52,405,304. Company insiders own 11.64% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $246.54 on Friday. The business's 50 day moving average is $215.93 and its 200-day moving average is $183.14. The firm has a market cap of $2.98 trillion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

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.

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