Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by AGF Management Ltd.

AGF Management Ltd. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 675,592 shares of the information services provider’s stock after selling 210,764 shares during the period. AGF Management Ltd.’s holdings in Alphabet were worth $123,059,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Vanguard Group Inc. grew its holdings in shares of Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after buying an additional 4,064,073 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after buying an additional 238,403 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Alphabet by 3.3% during the fourth quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock valued at $6,310,925,000 after buying an additional 1,429,261 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after buying an additional 597,756 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The disclosure for this sale can be found here. Insiders sold a total of 180,867 shares of company stock valued at $29,878,106 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GOOGL shares. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Jefferies Financial Group lifted their price target on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Piper Sandler lowered their price target on Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Guggenheim boosted their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Loop Capital restated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Price Performance

NASDAQ GOOGL opened at $162.29 on Wednesday. The stock has a 50-day simple moving average of $163.80 and a 200 day simple moving average of $166.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.01 trillion, a PE ratio of 24.89, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the firm posted $1.44 EPS. Research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.