Alphabet Inc. (NASDAQ:GOOGL) is Canada Pension Plan Investment Board’s Largest Position

Canada Pension Plan Investment Board lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,194,327 shares of the information services provider’s stock after purchasing an additional 95,001 shares during the quarter. Alphabet comprises approximately 3.2% of Canada Pension Plan Investment Board’s holdings, making the stock its largest holding. Canada Pension Plan Investment Board owned approximately 0.18% of Alphabet worth $2,463,323,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Resolute Partners Group purchased a new position in Alphabet in the 4th quarter worth approximately $28,000. TFO TDC LLC acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $43,000. Sage Private Wealth Group LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $51,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $52,000. Finally, Sage Financial Management Group Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $56,000. Hedge funds and other institutional investors own 34.52% of the company’s stock.

Alphabet stock traded up $7.14 during mid-day trading on Thursday, hitting $2,558.12. The company’s stock had a trading volume of 25,074 shares, compared to its average volume of 1,119,521. The stock’s 50 day moving average is $2,423.87. The firm has a market cap of $1.71 trillion, a P/E ratio of 34.08, a PEG ratio of 1.54 and a beta of 1.01. The company has a current ratio of 3.10, a quick ratio of 3.09 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52-week low of $1,402.15 and a 52-week high of $2,586.53.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, April 26th. The information services provider reported $26.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.82 by $10.47. The firm had revenue of $45.60 billion during the quarter, compared to the consensus estimate of $42.46 billion. Alphabet had a return on equity of 23.54% and a net margin of 26.11%. During the same period in the prior year, the business earned $9.87 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 90.17 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on GOOGL shares. Mizuho upped their target price on Alphabet from $2,600.00 to $2,800.00 and gave the company a “buy” rating in a research report on Monday, April 26th. KeyCorp upped their price target on Alphabet from $2,625.00 to $2,681.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. JMP Securities upped their price target on Alphabet from $2,400.00 to $2,850.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. Truist upped their price target on Alphabet from $2,250.00 to $2,400.00 in a research report on Monday, April 26th. Finally, Truist Securities upped their price target on Alphabet from $2,250.00 to $2,400.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Three investment analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $2,520.50.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

Featured Story: What are catch-up contributions?

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.