Alphabet Inc. $GOOGL is TD Asset Management Inc’s 7th Largest Position

TD Asset Management Inc trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.1% during the second quarter, HoldingsChannel.com reports. The firm owned 6,878,557 shares of the information services provider’s stock after selling 771,564 shares during the quarter. Alphabet makes up 2.1% of TD Asset Management Inc’s portfolio, making the stock its 7th largest position. TD Asset Management Inc’s holdings in Alphabet were worth $2,458,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lifetime Wealth Management P.C. purchased a new position in Alphabet during the 4th quarter valued at about $32,000. EMC Capital Management purchased a new stake in shares of Alphabet in the fourth quarter worth about $33,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth about $38,000. Bard Associates Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $52,000. Finally, iSAM Funds UK Ltd bought a new position in shares of Alphabet in the third quarter valued at approximately $53,000. 40.03% of the stock is currently owned by institutional investors.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the transaction, the chief accounting officer directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 451,945 shares of company stock valued at $12,382,714. Insiders own 11.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. DA Davidson set a $350.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Zacks Research cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. UBS Group cut their price target on shares of Alphabet from $400.00 to $379.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Rosenblatt Securities restated a “buy” rating and set a $410.00 price target on shares of Alphabet in a research report on Thursday. Finally, Oppenheimer upped their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $420.19.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $344.82 on Monday. The stock has a market cap of $4.22 trillion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 0.97 and a beta of 1.24. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1-year low of $201.30 and a 1-year high of $408.61. The stock’s 50-day moving average is $352.00 and its 200 day moving average is $341.35.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, sell-side analysts anticipate that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 4.42%.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.