TD Waterhouse Canada Inc. Raises Stake in Alphabet Inc. $GOOGL

Key Points

• TD Waterhouse Canada increased its Alphabet stake by 8.8% in the second quarter, acquiring 124,315 additional shares to hold 1.53 million shares valued at approximately $554.6 million. Institutional investors own about 40% of Alphabet.
• Alphabet reported quarterly revenue of $119.8 billion, exceeding analyst expectations, while earnings per share of $9.11 surpassed the $2.89 consensus estimate. The company also maintains a quarterly dividend of $0.22 per share.
• Wall Street remains broadly positive, with an average “Buy” rating and a consensus price target of $420.78, although insiders sold approximately $12 million in shares during the latest quarter.

TD Waterhouse Canada Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,534,475 shares of the information services provider's stock after acquiring an additional 124,315 shares during the period. Alphabet comprises about 1.5% of TD Waterhouse Canada Inc.'s portfolio, making the stock its 17th largest position. TD Waterhouse Canada Inc.'s holdings in Alphabet were worth $554,591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Premier Path Wealth Partners LLC lifted its stake in shares of Alphabet by 4.3% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 52,793 shares of the information services provider's stock valued at $18,867,000 after purchasing an additional 2,182 shares during the period. Kickstand Ventures LLC. purchased a new stake in shares of Alphabet in the second quarter valued at approximately $410,000. Concurrent Investment Advisors LLC boosted its position in shares of Alphabet by 15.9% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 437,581 shares of the information services provider's stock valued at $156,378,000 after acquiring an additional 59,890 shares during the last quarter. Prosperitas Financial LLC grew its position in Alphabet by 1.1% in the second quarter. Prosperitas Financial LLC now owns 41,137 shares of the information services provider's stock worth $14,701,000 after acquiring an additional 461 shares during the period. Finally, NEOS Investment Management LLC raised its holdings in Alphabet by 11.4% in the 2nd quarter. NEOS Investment Management LLC now owns 2,234,827 shares of the information services provider's stock valued at $798,660,000 after buying an additional 229,547 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $342.87 on Thursday. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $235.84 and a 12 month high of $408.61. The business has a fifty day simple moving average of $345.59 and a 200-day simple moving average of $344.63. The stock has a market cap of $4.19 trillion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.00 and a beta of 1.22.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The company had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 20.52 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, September 7th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is presently 4.42%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: A consortium of 10 banks is reportedly providing a $22 billion chip loan to support Crux AI, Alphabet’s new cloud venture with Blackstone. The financing could accelerate data-center capacity and strengthen Alphabet’s position in AI infrastructure. Banks provide $22 billion chip loan to Blackstone, Alphabet cloud venture
• Positive Sentiment: Google is launching agentic commerce tools for retailers ahead of the holiday season, potentially increasing product-discovery activity, advertising demand and merchant adoption of Google’s AI services. Google Debuts Agentic Tools to Prep Retailers for Holidays
• Positive Sentiment: Alphabet agreed to its largest carbon-removal purchase yet through a Brazilian Terradot project. Separately, Google and Nvidia launched an alliance to make AI data centers more flexible and reduce power-grid strain—helpful developments as electricity availability becomes a constraint on AI growth. Google agrees biggest carbon-removal deal yet
• Positive Sentiment: Alphabet could benefit financially from a potential Anthropic IPO through its reported 14% ownership stake, cloud relationship and chip agreements, although the timing and valuation remain uncertain. What the Anthropic IPO Means for Amazon and Alphabet Investors

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 82 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $337.71, for a total transaction of $27,692.22. Following the completion of the sale, the director owned 18,995 shares of the company's stock, valued at $6,414,801.45. The trade was a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 450,875 shares of company stock worth $11,984,482 over the last quarter. Company insiders own 11.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOGL. KeyCorp upped their price target on Alphabet from $425.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Piper Sandler reissued an "overweight" rating and issued a $395.00 price target (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Friday, July 17th. Finally, Wedbush restated an "outperform" rating and set a $445.00 price objective on shares of Alphabet in a report on Thursday, July 23rd. Five analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Buy" and an average price target of $420.78.

Alphabet Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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