CIBC World Markets Inc. Buys 5,750 Shares of Alphabet Inc. (GOOGL)
CIBC World Markets Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 21.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,688 shares of the company’s stock after buying an additional 5,750 shares during the period. CIBC World Markets Inc.’s holdings in Alphabet were worth $22,997,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of GOOGL. Investec Asset Management LTD increased its stake in shares of Alphabet by 944.0% in the first quarter. Investec Asset Management LTD now owns 326,855 shares of the company’s stock worth $249,358,000 after buying an additional 295,547 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in Alphabet during the first quarter worth approximately $218,533,000. Canada Pension Plan Investment Board boosted its position in Alphabet by 54.1% in the first quarter. Canada Pension Plan Investment Board now owns 547,569 shares of the company’s stock worth $417,740,000 after buying an additional 192,350 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Alphabet during the first quarter worth approximately $125,115,000. Finally, Alecta Pensionsforsakring Omsesidigt boosted its position in Alphabet by 7.7% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,687,100 shares of the company’s stock worth $1,186,048,000 after buying an additional 121,000 shares in the last quarter. Hedge funds and other institutional investors own 34.12% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOGL) traded down 0.30% on Friday, hitting $800.71. 1,163,899 shares of the company were exchanged. The firm’s 50 day moving average is $799.75 and its 200 day moving average is $759.77. The company has a market capitalization of $550.31 billion, a P/E ratio of 31.02 and a beta of 1.00. Alphabet Inc. has a 52 week low of $667.24 and a 52 week high of $819.06.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the Zacks’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. On average, equities research analysts forecast that Alphabet Inc. will post $34.11 earnings per share for the current fiscal year.
A number of research firms recently commented on GOOGL. Wedbush cut Alphabet from a “neutral” rating to an “underperform” rating and increased their target price for the company from $7.20 to $800.00 in a research note on Tuesday, September 27th. Morgan Stanley reissued a “buy” rating and issued a $880.00 target price on shares of Alphabet in a research note on Thursday, September 29th. Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research note on Sunday, August 14th. RBC Capital Markets reissued an “outperform” rating and issued a $1,025.00 target price (up previously from $1,000.00) on shares of Alphabet in a research note on Friday, September 30th. Finally, Jefferies Group reissued a “buy” rating and issued a $1,000.00 target price on shares of Alphabet in a research note on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, forty-seven have issued a buy rating and one has issued a strong buy rating to the company. Alphabet presently has an average rating of “Buy” and an average price target of $926.06.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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