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CIBC Private Wealth Group LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,130,382 shares of the information services provider’s stock after purchasing an additional 390,206 shares during the period. Alphabet accounts for about 2.9% of CIBC Private Wealth Group LLC’s holdings, making the stock its 5th biggest position. CIBC Private Wealth Group LLC owned 0.07% of Alphabet worth $1,576,887,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp grew its holdings in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. Norges Bank bought a new stake in Alphabet during the 4th quarter worth approximately $24,383,677,000. JPMorgan Chase & Co. increased its holdings in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Alphabet by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock worth $9,581,427,000 after purchasing an additional 757,138 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock worth $21,089,470 over the last ninety days. 11.55% of the stock is owned by corporate insiders.
Alphabet Stock Up 0.8 %
Shares of NASDAQ GOOGL opened at $146.75 on Tuesday. The firm has a fifty day simple moving average of $174.25 and a two-hundred day simple moving average of $176.82. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. 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 firm has a market capitalization of $1.79 trillion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.
Analyst Ratings Changes
Several research firms have recently weighed in on GOOGL. Piper Sandler decreased their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Rosenblatt Securities restated a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Citigroup decreased their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, Wedbush lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $209.13.
Get Our Latest Stock Report on Alphabet
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.
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