TD Private Client Wealth LLC Sells 3,429 Shares of Alphabet Inc. (NASDAQ:GOOGL)

TD Private Client Wealth LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,471 shares of the information services provider's stock after selling 3,429 shares during the quarter. TD Private Client Wealth LLC's holdings in Alphabet were worth $15,228,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Burt Wealth Advisors boosted its holdings in Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after acquiring an additional 54 shares during the period. Perritt Capital Management Inc boosted its holdings in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after acquiring an additional 58 shares during the period. Nia Impact Advisors LLC boosted its holdings in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after acquiring an additional 59 shares during the period. Hanlon Investment Management Inc. boosted its holdings in Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after acquiring an additional 60 shares during the period. Finally, Enzi Wealth boosted its holdings in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after acquiring an additional 62 shares during the period. Institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of analyst reports. Wedbush set a $190.00 price target on Alphabet and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Tigress Financial increased their target price on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a research note on Wednesday, June 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $199.61.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,443 shares of company stock valued at $36,298,548. Company insiders own 11.55% of the company's stock.

Alphabet Price Performance

Shares of GOOGL opened at $180.19 on Monday. The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock's fifty day moving average is $170.32 and its 200-day moving average is $173.15.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the company earned $1.89 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

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.

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