Meitav Investment House Ltd. Sells 88,412 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Meitav Investment House Ltd. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 473,307 shares of the information services provider’s stock after selling 88,412 shares during the quarter. Alphabet makes up approximately 1.0% of Meitav Investment House Ltd.’s holdings, making the stock its 28th largest holding. Meitav Investment House Ltd.’s holdings in Alphabet were worth $66,076,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. RWQ Financial Management Services Inc. lifted its stake in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the period. Ballast Advisors LLC lifted its stake in Alphabet by 9.6% during the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC lifted its stake in Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after acquiring an additional 564 shares during the period. Acadian Asset Management LLC lifted its stake in Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after acquiring an additional 104,366 shares during the period. Finally, NatWest Group plc lifted its stake in Alphabet by 239.0% during the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after acquiring an additional 71,057 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 over the last three months. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOGL has been the topic of several research analyst reports. Truist Financial upped their target price on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group increased their target price on shares of Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday. Roth Mkm reduced their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Citigroup reissued a “buy” rating and issued a $168.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.41.

Alphabet Stock Down 1.2 %

NASDAQ GOOGL opened at $154.09 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $1.92 trillion, a P/E ratio of 26.57, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a one year low of $102.63 and a one year high of $160.22. The stock has a 50 day moving average price of $146.26 and a 200-day moving average price of $140.54.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period last year, the company earned $1.05 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

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.