Meitav Investment House Ltd. Purchases 6,334 Shares of Alphabet Inc. $GOOGL

Meitav Investment House Ltd. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,195 shares of the information services provider’s stock after purchasing an additional 6,334 shares during the quarter. Meitav Investment House Ltd.’s holdings in Alphabet were worth $19,771,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Missouri Trust & Investment Co lifted its position in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its position in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC lifted its position in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares in the last quarter. Financial Council LLC lifted its position in shares of Alphabet by 1.0% in the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after acquiring an additional 60 shares in the last quarter. Finally, Enzi Wealth lifted its position in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 244,438 shares of company stock valued at $53,216,085. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 2.3%

Shares of NASDAQ GOOGL opened at $251.03 on Thursday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $229.41 and a 200-day simple moving average of $190.28. The stock has a market capitalization of $3.04 trillion, a PE ratio of 26.73, a PEG ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and issued a $288.00 target price on shares of Alphabet in a research report on Tuesday. Rosenblatt Securities lifted their price objective on Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Royal Bank Of Canada lifted their price objective on Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. JMP Securities lifted their price objective on Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a research report on Friday, September 19th. Finally, Stifel Nicolaus lifted their price objective on Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $249.26.

Alphabet Company 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.