Meitav Dash Investments Ltd. Has $71.36 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Meitav Dash Investments Ltd. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,836 shares of the information services provider’s stock after selling 2,581 shares during the quarter. Alphabet makes up about 1.1% of Meitav Dash Investments Ltd.’s portfolio, making the stock its 23rd largest holding. Meitav Dash Investments Ltd.’s holdings in Alphabet were worth $71,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter valued at $14,477,662,000. Fundsmith LLP bought a new stake in shares of Alphabet in the 4th quarter valued at $1,214,138,000. Invesco Ltd. boosted its stake in shares of Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after purchasing an additional 283,907 shares during the last quarter. State Street Corp boosted its stake in shares of Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after purchasing an additional 157,280 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $52,000. 41.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Evercore ISI cut their target price on shares of Alphabet from $155.50 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Stifel Nicolaus set a $155.00 target price on shares of Alphabet in a research note on Monday, July 18th. Guggenheim cut their target price on shares of Alphabet to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Finally, William Blair reissued an “outperform” rating on shares of Alphabet in a research note on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.36.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $122.08 on Tuesday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.61 trillion, a PE ratio of 22.71, a P/E/G ratio of 1.97 and a beta of 1.08. Alphabet Inc. has a twelve month low of $101.88 and a twelve month high of $151.55. The company has a 50-day moving average price of $155.82 and a two-hundred day moving average price of $137.57.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the prior year, the business posted $27.26 EPS. Equities analysts forecast that Alphabet Inc. will post 5.22 EPS for the current year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the sale, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $120.00, for a total transaction of $60,000.00. Following the completion of the sale, the director now directly owns 34,760 shares in the company, valued at $4,171,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,852 shares of company stock worth $15,750,955. 11.44% of the stock is owned by company insiders.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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