Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,132.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 850,480 shares of the information services provider’s stock after purchasing an additional 781,488 shares during the period. Alphabet accounts for 1.1% of Cibc World Markets Corp’s portfolio, making the stock its 13th biggest position. Cibc World Markets Corp’s holdings in Alphabet were worth $81,348,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in shares of Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after acquiring an additional 58,159,150 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Alphabet by 1,928.6% during the third quarter. Fisher Asset Management LLC now owns 42,474,883 shares of the information services provider’s stock worth $4,062,723,000 after acquiring an additional 40,381,114 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Alphabet by 1,731.5% during the third quarter. Nuveen Asset Management LLC now owns 33,615,585 shares of the information services provider’s stock worth $3,215,331,000 after acquiring an additional 31,780,148 shares during the last quarter. Jennison Associates LLC grew its position in shares of Alphabet by 1,690.3% during the third quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock worth $2,509,083,000 after acquiring an additional 24,766,730 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Alphabet by 1.4% during the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock worth $64,817,723,000 after acquiring an additional 331,945 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 11,313 shares of the stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,745 shares of company stock worth $3,424,078. Insiders own 11.44% of the company’s stock.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $90.63 on Friday. The stock’s 50 day moving average price is $94.19 and its 200 day moving average price is $96.71. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. The company has a market capitalization of $1.16 trillion, a P/E ratio of 19.91, a P/E/G ratio of 1.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same quarter in the prior year, the company posted $1.53 EPS. On average, research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. Tigress Financial decreased their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research report on Friday, January 6th. Bank of America increased their target price on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Credit Suisse Group decreased their target price on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Finally, Barclays increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $132.32.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.