Meitav Investment House Ltd. Has $58.14 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Meitav Investment House Ltd. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,828 shares of the information services provider’s stock after selling 21,801 shares during the quarter. Alphabet makes up 1.1% of Meitav Investment House Ltd.’s portfolio, making the stock its 23rd largest position. Meitav Investment House Ltd.’s holdings in Alphabet were worth $58,137,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Partnership Wealth Management LLC bought a new position in Alphabet during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the 4th quarter valued at $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in Alphabet during the 4th quarter valued at $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded up $4.57 during trading on Friday, reaching $191.96. 14,303,361 shares of the company traded hands, compared to its average volume of 15,944,221. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $192.26. The firm has a market capitalization of $2.37 trillion, a PE ratio of 29.44, a PEG ratio of 1.44 and a beta of 1.05. The company’s 50 day moving average is $176.95 and its two-hundred day moving average is $157.51.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,288 shares of company stock valued at $25,345,053. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOG. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $167.86.

Read Our Latest Stock Report on GOOG

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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