Meitav Investment House Ltd. Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Meitav Investment House Ltd. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 298,425 shares of the information services provider’s stock after selling 2,217 shares during the period. Meitav Investment House Ltd.’s holdings in Alphabet were worth $49,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Davis Rea LTD. increased its holdings in Alphabet by 24.0% during the third quarter. Davis Rea LTD. now owns 102,519 shares of the information services provider’s stock valued at $17,003,000 after buying an additional 19,828 shares during the period. Catalyst Financial Partners LLC boosted its position in Alphabet by 2.1% during the 3rd quarter. Catalyst Financial Partners LLC now owns 28,643 shares of the information services provider’s stock valued at $4,750,000 after acquiring an additional 577 shares in the last quarter. Tevis Investment Management boosted its position in Alphabet by 2.4% during the 3rd quarter. Tevis Investment Management now owns 15,029 shares of the information services provider’s stock valued at $2,493,000 after acquiring an additional 348 shares in the last quarter. Goldstone Financial Group LLC purchased a new position in shares of Alphabet in the 3rd quarter valued at $1,321,000. Finally, Voisard Asset Management Group Inc. raised its position in shares of Alphabet by 1.6% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 4,262 shares of the information services provider’s stock worth $707,000 after acquiring an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $181.62 on Wednesday. The firm has a market cap of $2.22 trillion, a PE ratio of 24.09, a P/E/G ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $163.88 and a 200 day moving average price of $169.91.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the business earned $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Mizuho raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. KeyCorp raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director John L. Hennessy sold 700 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now directly owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,752 shares of company stock valued at $40,156,829 over the last ninety days. Corporate insiders own 11.55% 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.