CIBC Asset Management Inc grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,703,231 shares of the information services provider's stock after buying an additional 31,337 shares during the period. Alphabet accounts for about 1.1% of CIBC Asset Management Inc's holdings, making the stock its 25th largest holding. CIBC Asset Management Inc's holdings in Alphabet were worth $324,147,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its holdings in shares of Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider's stock valued at $1,394,181,000 after purchasing an additional 51,226 shares during the last quarter. Leo Wealth LLC raised its stake in Alphabet by 14.3% during the 3rd quarter. Leo Wealth LLC now owns 22,217 shares of the information services provider's stock valued at $3,714,000 after acquiring an additional 2,782 shares during the last quarter. Narwhal Capital Management raised its stake in Alphabet by 3.5% during the 3rd quarter. Narwhal Capital Management now owns 301,771 shares of the information services provider's stock valued at $50,453,000 after acquiring an additional 10,240 shares during the last quarter. Mainsail Financial Group LLC grew its holdings in shares of Alphabet by 12.8% in the 3rd quarter. Mainsail Financial Group LLC now owns 9,813 shares of the information services provider's stock worth $1,600,000 after acquiring an additional 1,117 shares during the period. Finally, Community Trust & Investment Co. grew its holdings in shares of Alphabet by 0.6% in the 3rd quarter. Community Trust & Investment Co. now owns 396,587 shares of the information services provider's stock worth $66,305,000 after acquiring an additional 2,229 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company's stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,609 shares of company stock valued at $21,809,990. 12.99% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on GOOG shares. Scotiabank upped their price target on Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Friday, January 24th. Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. UBS Group increased their target price on Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Oppenheimer increased their target price on Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $209.13.
Get Our Latest Analysis on GOOG
Alphabet Trading Down 2.7 %
Shares of Alphabet stock traded down $5.06 during trading hours on Friday, reaching $181.58. 19,447,412 shares of the company's stock were exchanged, compared to its average volume of 17,667,480. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. The firm has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. The company has a fifty day moving average of $194.22 and a 200-day moving average of $177.08. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet's dividend payout ratio (DPR) is currently 9.94%.
Alphabet Company Profile
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Free Report)
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.
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