Alphabet Inc. (NASDAQ:GOOGL) is Cidel Asset Management Inc.’s 4th Largest Position

Cidel Asset Management Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 65.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 228,015 shares of the information services provider’s stock after buying an additional 90,070 shares during the period. Alphabet makes up about 2.9% of Cidel Asset Management Inc.’s portfolio, making the stock its 4th largest position. Cidel Asset Management Inc.’s holdings in Alphabet were worth $43,196,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GOOGL. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet during the 4th quarter valued at approximately $39,000. Denver PWM LLC lifted its stake in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the period. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Alphabet during the third quarter worth $66,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.5 %

NASDAQ GOOGL opened at $185.23 on Tuesday. The business has a fifty day moving average price of $192.85 and a 200 day moving average price of $175.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The company has a market cap of $2.27 trillion, a P/E ratio of 23.01, a P/E/G ratio of 1.39 and a beta of 0.99. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts anticipate that Alphabet Inc. will post 8.91 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Wedbush raised their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Wells Fargo & Company lifted their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Evercore ISI increased their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock worth $16,600,078 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

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.