Toronto Dominion Bank decreased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 285,230 shares of the information services provider’s stock after selling 1,686 shares during the period. Alphabet accounts for approximately 1.0% of Toronto Dominion Bank’s portfolio, making the stock its 12th biggest holding. Toronto Dominion Bank’s holdings in Alphabet were worth $404,482,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Virtus Alternative Investment Advisers Inc. acquired a new position in shares of Alphabet in the second quarter valued at approximately $45,000. Cedar Mountain Advisors LLC increased its holdings in shares of Alphabet by 26.9% in the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 7 shares during the period. Center for Financial Planning Inc. increased its holdings in shares of Alphabet by 35.5% in the first quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 11 shares during the period. Watson Rebecca acquired a new position in shares of Alphabet in the second quarter valued at approximately $60,000. Finally, MBE Wealth Management LLC acquired a new position in shares of Alphabet in the first quarter valued at approximately $69,000. 33.78% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on GOOGL. Morgan Stanley boosted their target price on Alphabet from $1,700.00 to $1,760.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Canaccord Genuity boosted their target price on Alphabet from $1,700.00 to $1,800.00 and gave the company a “buy” rating in a report on Friday, July 31st. Guggenheim lifted their price target on Alphabet from $1,580.00 to $1,725.00 and gave the company a “buy” rating in a research note on Friday, July 31st. KeyCorp assumed coverage on Alphabet in a research note on Monday. They issued an “overweight” rating and a $1,955.00 price target on the stock. Finally, Credit Suisse Group lifted their price target on Alphabet from $1,600.00 to $1,850.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Four investment analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average price target of $1,666.49.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. On average, sell-side analysts predict that Alphabet Inc will post 44.74 EPS for the current year.
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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