Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Cibc World Markets Corp

Cibc World Markets Corp increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 42.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,967,895 shares of the information services provider's stock after buying an additional 878,698 shares during the quarter. Alphabet accounts for 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.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Schear Investment Advisers LLC lifted its stake in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock valued at $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Permanent Capital Management LP purchased a new position in Alphabet in the 4th quarter worth approximately $273,000. Landscape Capital Management L.L.C. lifted its position in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock valued at $4,192,000 after purchasing an additional 5,516 shares during the last quarter. Glass Wealth Management Co LLC boosted its stake in shares of Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock valued at $7,014,000 after purchasing an additional 1,580 shares during the period. Finally, Olistico Wealth LLC boosted its stake in shares of Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider's stock valued at $1,700,000 after purchasing an additional 746 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

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Alphabet Stock Performance

NASDAQ:GOOGL traded up $2.43 during mid-day trading on Tuesday, reaching $157.07. The company's stock had a trading volume of 30,638,515 shares, compared to its average volume of 27,380,987. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.91 trillion, a P/E ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.02. The firm's fifty day moving average price is $178.01 and its two-hundred day moving average price is $177.09. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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 net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued 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 dividend yield of 0.51%. Alphabet's payout ratio is 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares of the company's stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,665 shares of company stock worth $16,198,310 in the last ninety days. Insiders own 11.55% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. Rosenblatt Securities reiterated a "neutral" rating and set a $205.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Wells Fargo & Company dropped their target price on shares of Alphabet from $184.00 to $167.00 and set an "equal weight" rating for the company in a report on Monday. KeyCorp reduced their price target on Alphabet from $220.00 to $202.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Wolfe Research increased their price objective on Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Finally, DA Davidson boosted their target price on Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $209.49.

About Alphabet

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.