TD Private Client Wealth LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

TD Private Client Wealth LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 35,151 shares of the information services provider’s stock after selling 60 shares during the quarter. TD Private Client Wealth LLC’s holdings in Alphabet were worth $5,877,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hobbs Group Advisors LLC raised its stake in Alphabet by 4.8% in the 3rd quarter. Hobbs Group Advisors LLC now owns 3,544 shares of the information services provider’s stock valued at $593,000 after purchasing an additional 162 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Alphabet by 2.3% in the third quarter. Sunbelt Securities Inc. now owns 35,066 shares of the information services provider’s stock valued at $5,863,000 after buying an additional 796 shares during the last quarter. Financial Avengers Inc. purchased a new position in shares of Alphabet in the third quarter worth about $14,936,000. Brown Financial Advisors boosted its position in Alphabet by 2.4% during the third quarter. Brown Financial Advisors now owns 23,956 shares of the information services provider’s stock worth $4,005,000 after acquiring an additional 572 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after acquiring an additional 14,738 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOG opened at $186.53 on Wednesday. Alphabet Inc. has a 52 week low of $131.06 and a 52 week high of $193.31. The company has a fifty day simple moving average of $171.26 and a two-hundred day simple moving average of $171.73. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.28 trillion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Ratings Changes

GOOG has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,923 shares of company stock worth $34,244,676 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.