Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,632,345 shares of the information services provider’s stock after buying an additional 86,019 shares during the period. Alphabet makes up 0.9% of CIBC Asset Management Inc’s holdings, making the stock its 29th largest position. CIBC Asset Management Inc’s holdings in Alphabet were worth $270,722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. MorganRosel Wealth Management LLC grew its holdings in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 57 shares during the period. Hengehold Capital Management LLC boosted its holdings in shares of Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. First PREMIER Bank increased its holdings in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after buying an additional 61 shares during the last quarter. Finally, MKT Advisors LLC increased its holdings in shares of Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after buying an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.1 %

Alphabet stock opened at $169.23 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The firm’s 50-day moving average is $168.36 and its 200-day moving average is $170.33. The company has a market cap of $2.07 trillion, a P/E ratio of 22.44, a PEG ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the company posted $1.55 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 over the last three months. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GOOGL shares. Loop Capital boosted their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Evercore ISI boosted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.