Meitav Investment House Ltd. Has $66.08 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Meitav Investment House Ltd. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 473,307 shares of the information services provider’s stock after selling 88,412 shares during the period. Alphabet accounts for about 1.0% of Meitav Investment House Ltd.’s portfolio, making the stock its 28th largest position. Meitav Investment House Ltd.’s holdings in Alphabet were worth $66,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of GOOGL. Bornite Capital Management LP acquired a new position in shares of Alphabet during the 1st quarter valued at $16,688,000. Markel Corp raised its holdings in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after buying an additional 2,250 shares during the last quarter. United Bank raised its holdings in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management raised its holdings in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. KeyCorp upped their price objective on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Roth Mkm lowered their price objective on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. BMO Capital Markets restated an “outperform” rating and set a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. Royal Bank of Canada restated an “outperform” rating and set a $155.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $158.41.

Alphabet Price Performance

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

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

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by corporate insiders.

About Alphabet

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.