Alphabet Inc. $GOOGL is AGF Management Ltd.’s 4th Largest Position

AGF Management Ltd. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,817,584 shares of the information services provider’s stock after selling 220,594 shares during the period. Alphabet accounts for approximately 2.3% of AGF Management Ltd.’s portfolio, making the stock its 4th largest holding. AGF Management Ltd.’s holdings in Alphabet were worth $496,543,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its holdings in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in Alphabet in the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Alphabet in the first quarter worth approximately $50,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $289.45 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $306.42. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $261.21 and a two-hundred day simple moving average of $212.12. The stock has a market capitalization of $3.49 trillion, a PE ratio of 28.55, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the transaction, the chief accounting officer owned 11,739 shares of the company’s stock, valued at $3,383,884.14. This represents a 19.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 192,674 shares of company stock valued at $48,454,423 over the last quarter. 11.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. KeyCorp reiterated an “overweight” rating and issued a $300.00 price objective (up from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Sanford C. Bernstein boosted their target price on shares of Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, Citizens Jmp upped their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $305.33.

Alphabet 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.