Meitav Investment House Ltd. Has $35.53 Million Position in Alphabet Inc. $GOOGL

Key Points

• Meitav Investment House Ltd. reduced its Alphabet stake by 20.6% in the first quarter, selling 32,202 shares and leaving it with 123,922 shares valued at about $35.5 million.
• Alphabet continues to attract broad institutional support, with major holders like Vanguard, State Street, Geode Capital, and Norges Bank maintaining or adding positions; overall, 40.03% of the stock is owned by institutions and hedge funds.
• Analysts remain upbeat on Alphabet after strong earnings and AI momentum, with several raising price targets and the stock carrying a Moderate Buy consensus; Alphabet also recently increased its quarterly dividend to $0.22 per share.

Meitav Investment House Ltd. cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,922 shares of the information services provider's stock after selling 32,202 shares during the quarter. Meitav Investment House Ltd.'s holdings in Alphabet were worth $35,533,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GOOGL. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after buying an additional 12,531,695 shares during the period. State Street Corp increased its position in Alphabet by 1.8% in the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock valued at $40,524,841,000 after acquiring an additional 4,008,374 shares during the period. Geode Capital Management LLC increased its position in Alphabet by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock valued at $45,625,595,000 after acquiring an additional 2,666,676 shares during the period. Norges Bank bought a new position in shares of Alphabet during the fourth quarter valued at $30,534,239,000. Finally, Bank of America Corp DE raised its stake in shares of Alphabet by 4.9% during the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after acquiring an additional 3,218,852 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Warren Buffett said he initiated Berkshire Hathaway’s Alphabet investment, a high-profile endorsement that is helping sentiment around Alphabet (GOOGL). Warren Buffett tells CNBC he initiated Berkshire Hathaway's investment in Alphabet
• Positive Sentiment: Multiple analyst previews say Alphabet’s AI momentum, cloud backlog, and earnings growth expectations could support another strong quarter, keeping investors upbeat ahead of results. Alphabet’s AI Spending Question Looms Over Q2 Earnings
• Positive Sentiment: Zacks upgraded Alphabet to strong-buy, citing earnings growth expectations and attractive fundamentals relative to its valuation. Zacks upgrade to strong-buy
• Neutral Sentiment: Alphabet expanded its clean-energy commitments with its largest solar and battery storage purchase yet, which supports its long-term infrastructure strategy but is not an immediate earnings driver. Google's biggest clean power project is 40 miles north of xAI's unpermitted gas power plant
• Neutral Sentiment: Alphabet also drew attention for a new collaboration with INVIDI Technologies to extend addressable advertising to set-top boxes, a potentially helpful ad-tech expansion but still early-stage. INVIDI Technologies Collaborates with Google to Integrate Google Ad Manager
• Negative Sentiment: The European Commission is preparing new fines against Google, renewing regulatory risk and adding pressure to Alphabet’s legal overhang. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
• Negative Sentiment: Google is also fighting antitrust scrutiny in Europe and Switzerland, including efforts to preserve a court ruling that overturned a $1.7 billion EU fine and a new Swiss probe over Android search defaults. Google urges EU top court to back ruling scrapping $1.7 billion antitrust fine
• Negative Sentiment: Separate reports raised concerns about Google’s AI search tools and a DeepMind researcher’s resignation over the company’s Pentagon work, both of which could add reputational risk. A DeepMind researcher resigned over its AI military deal

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. HSBC reissued a "buy" rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. President Capital raised their target price on Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Loop Capital lifted their target price on Alphabet from $355.00 to $490.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Cantor Fitzgerald upped their price target on Alphabet from $395.00 to $465.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Barclays reissued a "buy" rating on shares of Alphabet in a research note on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $413.73.

Alphabet Stock Up 3.2%

Shares of Alphabet stock opened at $370.92 on Thursday. Alphabet Inc. has a one year low of $180.48 and a one year high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock's 50-day moving average is $370.84 and its 200 day moving average is $337.62. The firm has a market cap of $4.49 trillion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.54 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Equities research analysts anticipate that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is presently 6.71%.

Insider Buying and Selling

In related news, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. The trade was a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,415 shares of company stock worth $7,672,279 over the last ninety days. 11.61% of the stock is owned by company insiders.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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