Canada Pension Plan Investment Board Grows Holdings in Alphabet Inc (GOOG)

Canada Pension Plan Investment Board boosted its position in shares of Alphabet Inc (NASDAQ:GOOG) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,154 shares of the information services provider’s stock after purchasing an additional 7,429 shares during the period. Canada Pension Plan Investment Board’s holdings in Alphabet were worth $298,390,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Investment Services of America Inc. boosted its stake in shares of Alphabet by 1.5% during the 4th quarter. Capital Investment Services of America Inc. now owns 12,066 shares of the information services provider’s stock worth $12,496,000 after buying an additional 174 shares during the last quarter. Steginsky Capital LLC lifted its stake in Alphabet by 1.3% in the 3rd quarter. Steginsky Capital LLC now owns 18,507 shares of the information services provider’s stock valued at $22,088,000 after purchasing an additional 234 shares during the last quarter. USS Investment Management Ltd lifted its stake in Alphabet by 13.8% in the 4th quarter. USS Investment Management Ltd now owns 263,372 shares of the information services provider’s stock valued at $273,162,000 after purchasing an additional 32,000 shares during the last quarter. Suncoast Equity Management lifted its stake in Alphabet by 1.0% in the 4th quarter. Suncoast Equity Management now owns 15,662 shares of the information services provider’s stock valued at $16,220,000 after purchasing an additional 148 shares during the last quarter. Finally, First National Bank of Hutchinson lifted its stake in Alphabet by 3.7% in the 4th quarter. First National Bank of Hutchinson now owns 1,232 shares of the information services provider’s stock valued at $1,276,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Shares of GOOG stock opened at $1,138.85 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. The company has a market cap of $806.92 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 1.37 and a beta of 1.03. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,289.27.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $10.51 by $1.39. The firm had revenue of $36.34 billion during the quarter, compared to the consensus estimate of $37.36 billion. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the business posted $9.93 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc will post 48.44 EPS for the current fiscal year.

Several equities research analysts recently issued reports on the stock. UBS Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, May 15th. Credit Suisse Group reiterated a “sell” rating on shares of Alphabet in a research note on Wednesday, May 15th. Deutsche Bank raised their target price on shares of Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Oppenheimer cut their target price on shares of Alphabet from $1,342.00 to $1,435.00 and set an “outperform” rating for the company in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have issued a buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,361.50.

In other Alphabet news, VP Amie Thuener O’toole sold 89 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $1,145.00, for a total transaction of $101,905.00. Following the completion of the sale, the vice president now directly owns 388 shares in the company, valued at $444,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 38 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $1,124.90, for a total transaction of $42,746.20. Following the sale, the director now owns 1,797 shares of the company’s stock, valued at $2,021,445.30. The disclosure for this sale can be found here. Insiders have sold 817 shares of company stock valued at $974,730 over the last 90 days. Company insiders own 13.11% of the company’s stock.

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About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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