TD Asset Management Inc. Sells 375,472 Shares of Alphabet Inc. (NASDAQ:GOOG)

TD Asset Management Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,158,317 shares of the information services provider’s stock after selling 375,472 shares during the period. Alphabet comprises 0.7% of TD Asset Management Inc.’s investment portfolio, making the stock its 29th biggest position. TD Asset Management Inc.’s holdings in Alphabet were worth $791,910,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $1,551,533,000. GQG Partners LLC boosted its position in shares of Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares during the last quarter. FMR LLC grew its stake in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares during the period. Proficio Capital Partners LLC increased its holdings in Alphabet by 5,712.8% in the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock valued at $831,810,000 after purchasing an additional 4,292,689 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after buying an additional 3,113,395 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Scotiabank lifted their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

NASDAQ GOOG opened at $169.93 on Tuesday. Alphabet Inc. has a 12-month low of $148.20 and a 12-month high of $208.70. The firm’s 50 day moving average is $183.93 and its 200-day moving average is $178.30. The company has a market capitalization of $2.07 trillion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.