AGF Management Ltd. Has $31.23 Million Stock Holdings in Alphabet Inc. $GOOG

AGF Management Ltd. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,049 shares of the information services provider’s stock after selling 9,563 shares during the quarter. AGF Management Ltd.’s holdings in Alphabet were worth $31,229,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its stake in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the period. JPMorgan Chase & Co. raised its position in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares during the period. Finally, Invesco Ltd. boosted its holdings in Alphabet by 2.2% in the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after acquiring an additional 440,526 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $279.70 on Monday. The business’s fifty day moving average is $251.81 and its 200 day moving average is $205.83. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.38 trillion, a P/E ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 222,396 shares of company stock worth $54,105,275. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GOOG shares. DA Davidson set a $825.00 price target on shares of Alphabet in a report on Monday, October 27th. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Pivotal Research boosted their target price on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Barclays upped their price target on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Piper Sandler lifted their price objective on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

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.