Toronto Dominion Bank Sells 1,198,676 Shares of Alphabet Inc. (NASDAQ:GOOG)

Toronto Dominion Bank trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 34.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,269,788 shares of the information services provider’s stock after selling 1,198,676 shares during the period. Alphabet comprises 0.7% of Toronto Dominion Bank’s investment portfolio, making the stock its 25th biggest position. Toronto Dominion Bank’s holdings in Alphabet were worth $379,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G PLC purchased a new position in Alphabet in the third quarter valued at approximately $2,240,000. Colonial River Wealth Management LLC boosted its position in shares of Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 107 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC increased its stake in Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Finally, Stevens Capital Management LP raised its stake in Alphabet by 172.9% in the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after purchasing an additional 57,810 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares in the company, valued at $4,385,565. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,923 shares of company stock worth $34,244,676 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $186.53 on Wednesday. The firm has a market cap of $2.28 trillion, a PE ratio of 24.74, a PEG ratio of 1.23 and a beta of 1.02. The stock has a 50 day moving average of $171.26 and a 200 day moving average of $171.73. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $131.06 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Analysts Set New Price Targets

GOOG has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $200.56.

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.