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Phoenix Financial Ltd. Has $127.20 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Alphabet logo with Computer and Technology background

Key Points

  • Phoenix Financial Ltd. increased its holdings in Alphabet Inc. by 4.5% in Q1, now owning 814,001 shares worth approximately $127 million, making it the 18th largest position in their portfolio.
  • A recent analysis indicates a consensus rating of "Moderate Buy" for Alphabet, with varying price targets ranging from $185.00 to $220.00 set by different analysts.
  • CEO Sundar Pichai sold 32,500 shares of Alphabet stock for around $5.8 million, marking a 1.25% decrease in his ownership after the transaction.
  • MarketBeat previews the top five stocks to own by September 1st.

Phoenix Financial Ltd. lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 814,001 shares of the information services provider's stock after acquiring an additional 34,987 shares during the quarter. Alphabet accounts for about 1.9% of Phoenix Financial Ltd.'s holdings, making the stock its 18th biggest holding. Phoenix Financial Ltd.'s holdings in Alphabet were worth $127,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Norges Bank purchased a new position in shares of Alphabet in the fourth quarter valued at $5,166,070,000. GAMMA Investing LLC grew its stake in shares of Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after acquiring an additional 14,246,573 shares during the last quarter. Northern Trust Corp boosted its position in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Capital International Investors boosted its position in Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after buying an additional 5,758,244 shares during the last quarter. Finally, Sanders Capital LLC boosted its position in Alphabet by 14.5% in the fourth quarter. Sanders Capital LLC now owns 33,504,543 shares of the information services provider's stock valued at $6,380,605,000 after buying an additional 4,247,379 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GOOG shares. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer reissued an "outperform" rating and issued a $235.00 price target (up from $220.00) on shares of Alphabet in a report on Thursday. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $215.19.

Get Our Latest Stock Report on Alphabet

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 400 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,409 shares of company stock worth $43,523,710. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

GOOG traded down $1.19 during trading on Monday, reaching $192.90. The stock had a trading volume of 15,813,465 shares, compared to its average volume of 24,222,178. The business has a 50-day moving average of $176.86 and a 200-day moving average of $174.38. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock has a market cap of $2.34 trillion, a PE ratio of 20.54, a PEG ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.44%. Alphabet's payout ratio is 8.95%.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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