AGF Management Ltd. Sells 318 Shares of Alphabet Inc. (NASDAQ:GOOG)

AGF Management Ltd. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,668 shares of the information services provider’s stock after selling 318 shares during the quarter. AGF Management Ltd.’s holdings in Alphabet were worth $15,346,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet during the 2nd quarter worth approximately $37,000. Richardson Financial Services Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $34,000. Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the 2nd quarter worth approximately $44,000. Hoese & Co LLP boosted its stake in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $48,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Finally, DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,867 shares of company stock worth $34,218,581. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $155.54 on Friday. The stock has a market capitalization of $1.92 trillion, a PE ratio of 23.86, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a fifty day moving average price of $169.73 and a two-hundred day moving average price of $165.83. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

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.