Toronto Dominion Bank Trims Stock Holdings in Alphabet Inc (NASDAQ:GOOGL)

Toronto Dominion Bank lowered its holdings in Alphabet Inc (NASDAQ:GOOGL) by 0.6% in the second quarter, HoldingsChannel reports. The firm owned 285,230 shares of the information services provider’s stock after selling 1,686 shares during the period. Alphabet comprises about 1.0% of Toronto Dominion Bank’s portfolio, making the stock its 12th largest holding. Toronto Dominion Bank’s holdings in Alphabet were worth $404,482,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Scharf Investments LLC lifted its holdings in Alphabet by 2.7% during the 2nd quarter. Scharf Investments LLC now owns 268 shares of the information services provider’s stock worth $380,000 after buying an additional 7 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in Alphabet by 26.9% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock worth $47,000 after buying an additional 7 shares during the last quarter. CVA Family Office LLC lifted its holdings in Alphabet by 11.7% during the 2nd quarter. CVA Family Office LLC now owns 67 shares of the information services provider’s stock worth $95,000 after buying an additional 7 shares during the last quarter. AFT Forsyth AND Company Inc. lifted its holdings in Alphabet by 0.8% during the 2nd quarter. AFT Forsyth AND Company Inc. now owns 911 shares of the information services provider’s stock worth $1,292,000 after buying an additional 7 shares during the last quarter. Finally, Guardian Capital Advisors LP lifted its holdings in Alphabet by 0.5% during the 2nd quarter. Guardian Capital Advisors LP now owns 1,381 shares of the information services provider’s stock worth $1,533,000 after buying an additional 7 shares during the last quarter. 33.78% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have commented on GOOGL shares. Credit Suisse Group increased their target price on Alphabet from $1,600.00 to $1,850.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Morgan Stanley increased their price target on Alphabet from $1,700.00 to $1,760.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Zacks Investment Research upgraded Alphabet from a “sell” rating to a “hold” rating and set a $1,616.00 price target on the stock in a research report on Monday, July 13th. Pivotal Research increased their price target on Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Monness Crespi & Hardt increased their price target on Alphabet from $1,420.00 to $1,700.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a hold rating and forty have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,666.49.

Shares of GOOGL traded up $26.29 during trading hours on Tuesday, hitting $1,535.12. 2,133,000 shares of the company were exchanged, compared to its average volume of 2,132,641. The company has a market capitalization of $1,026.25 billion, a PE ratio of 33.80, a PEG ratio of 2.08 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.40. The firm has a fifty day simple moving average of $1,548.42 and a 200-day simple moving average of $1,393.09. Alphabet Inc has a one year low of $1,008.87 and a one year high of $1,726.10.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. Sell-side analysts expect that Alphabet Inc will post 44.74 EPS for the current year.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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