Cibc World Market Inc. Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cibc World Market Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,016,027 shares of the information services provider’s stock after selling 73,719 shares during the period. Alphabet accounts for about 0.8% of Cibc World Market Inc.’s investment portfolio, making the stock its 27th largest holding. Cibc World Market Inc.’s holdings in Alphabet were worth $383,932,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GOOG. Czech National Bank grew its holdings in shares of Alphabet by 5.1% during the third quarter. Czech National Bank now owns 978,396 shares of the information services provider’s stock valued at $163,578,000 after buying an additional 47,171 shares during the last quarter. GAMMA Investing LLC lifted its position in Alphabet by 22.7% in the 3rd quarter. GAMMA Investing LLC now owns 66,213 shares of the information services provider’s stock valued at $11,070,000 after acquiring an additional 12,237 shares in the last quarter. Diversified Trust Co boosted its stake in Alphabet by 3.5% during the 3rd quarter. Diversified Trust Co now owns 113,498 shares of the information services provider’s stock valued at $18,976,000 after purchasing an additional 3,837 shares during the last quarter. Smith Anglin Financial LLC increased its holdings in shares of Alphabet by 68.0% in the 3rd quarter. Smith Anglin Financial LLC now owns 4,929 shares of the information services provider’s stock worth $824,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Chemistry Wealth Management LLC raised its stake in shares of Alphabet by 0.5% in the third quarter. Chemistry Wealth Management LLC now owns 104,739 shares of the information services provider’s stock worth $17,511,000 after purchasing an additional 526 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.5 %

GOOG opened at $205.60 on Monday. The stock has a market cap of $2.52 trillion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s fifty day moving average is $190.48 and its 200 day moving average is $175.60. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $207.08.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Canaccord Genuity Group raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,189 shares of company stock worth $22,182,696 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.