Meitav Dash Investments Ltd. Sells 59,950 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 3rd, 2023

Meitav Dash Investments Ltd. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,260 shares of the information services provider’s stock after selling 59,950 shares during the period. Meitav Dash Investments Ltd.’s holdings in Alphabet were worth $52,083,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GOOGL. Forza Wealth Management LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $1,016,000. Ramsay Stattman Vela & Price Inc. lifted its stake in shares of Alphabet by 15.9% in the fourth quarter. Ramsay Stattman Vela & Price Inc. now owns 42,145 shares of the information services provider’s stock worth $3,718,000 after buying an additional 5,775 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $49,000. Alecta Tjanstepension Omsesidigt lifted its stake in shares of Alphabet by 2.6% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 19,786,000 shares of the information services provider’s stock worth $1,745,521,000 after buying an additional 500,000 shares in the last quarter. Finally, Eagle Strategies LLC lifted its stake in shares of Alphabet by 24.2% in the fourth quarter. Eagle Strategies LLC now owns 3,081 shares of the information services provider’s stock worth $272,000 after buying an additional 601 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. MKM Partners upped their target price on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Raymond James increased their price objective on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Wells Fargo & Company increased their price objective on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Evercore ISI increased their price objective on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, Credit Suisse Group lowered their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.06.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the sale, the chief accounting officer now owns 25,937 shares in the company, valued at approximately $2,788,486.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares in the company, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,539 shares of company stock worth $10,214,031. 11.44% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $105.32 on Wednesday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $122.85. The company has a quick ratio of 2.34, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $100.73 and a two-hundred day simple moving average of $96.74. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same quarter last year, the business earned $1.23 earnings per share. Analysts anticipate that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.