Alphabet Inc. (NASDAQ:GOOGL) is Cibc World Markets Corp’s 6th Largest Position

Cibc World Markets Corp increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 42.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,967,895 shares of the information services provider’s stock after buying an additional 878,698 shares during the quarter. Alphabet comprises approximately 3.3% of Cibc World Markets Corp’s portfolio, making the stock its 6th largest position. Cibc World Markets Corp’s holdings in Alphabet were worth $561,823,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Pettinga Financial Advisors LLC raised its stake in shares of Alphabet by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after acquiring an additional 201 shares during the period. Impax Asset Management Group plc grew its stake in shares of Alphabet by 6.8% in the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock valued at $120,834,000 after buying an additional 46,677 shares in the last quarter. Principal Financial Group Inc. grew its position in Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after acquiring an additional 337,031 shares in the last quarter. Planning Capital Management Corp grew its holdings in shares of Alphabet by 20.7% in the third quarter. Planning Capital Management Corp now owns 3,145 shares of the information services provider’s stock valued at $522,000 after purchasing an additional 540 shares in the last quarter. Finally, Curi RMB Capital LLC increased its position in shares of Alphabet by 3.6% during the third quarter. Curi RMB Capital LLC now owns 335,698 shares of the information services provider’s stock worth $55,676,000 after acquiring an additional 11,722 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOGL. Bank of America reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. JPMorgan Chase & Co. cut their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler cut their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $205.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $210.59.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This represents a 19.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,812 shares of company stock valued at $19,336,979. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $154.33 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $1.88 trillion, a PE ratio of 19.17, a P/E/G ratio of 1.34 and a beta of 1.02. The firm has a 50 day simple moving average of $179.66 and a 200-day simple moving average of $176.72. Alphabet Inc. has a 1-year low of $147.22 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.