Cibc World Market Inc. Has $570.78 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Cibc World Market Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,015,231 shares of the information services provider’s stock after acquiring an additional 231,886 shares during the period. Alphabet accounts for 1.2% of Cibc World Market Inc.’s investment portfolio, making the stock its 19th biggest holding. Cibc World Market Inc.’s holdings in Alphabet were worth $570,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in GOOGL. LMR Partners LLP acquired a new stake in shares of Alphabet in the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the period. Denver PWM LLC raised its stake in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC grew its position in Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. Wells Fargo & Company upped their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley lowered their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a research report on Thursday. Finally, Evercore ISI boosted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Down 3.3 %

Shares of GOOGL opened at $185.34 on Friday. The business’s fifty day moving average price is $191.28 and its two-hundred day moving average price is $174.64. The firm has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. On average, analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.