Cibc World Markets Corp Has $207.09 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Cibc World Markets Corp reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,087,444 shares of the information services provider’s stock after selling 34,414 shares during the period. Alphabet accounts for approximately 1.2% of Cibc World Markets Corp’s investment portfolio, making the stock its 16th biggest holding. Cibc World Markets Corp’s holdings in Alphabet were worth $207,093,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Sterling Financial Planning Inc. increased its holdings in Alphabet by 2.6% in the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after acquiring an additional 50 shares in the last quarter. Arlington Trust Co LLC increased its holdings in Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after acquiring an additional 52 shares in the last quarter. Harrell Investment Partners LLC increased its holdings in Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after acquiring an additional 53 shares in the last quarter. Ethos Financial Group LLC increased its holdings in Alphabet by 0.7% in the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after acquiring an additional 53 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its holdings in Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 1.8 %

NASDAQ GOOG opened at $167.62 on Monday. The firm’s 50-day moving average is $187.41 and its two-hundred day moving average is $178.10. Alphabet Inc. has a 12 month low of $141.13 and a 12 month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 20.82, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock worth $17,374,274 over the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOG. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $209.13.

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.