Alphabet Inc. (NASDAQ:GOOGL) Position Trimmed by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,466 shares of the information services provider’s stock after selling 1,105 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Alphabet were worth $2,709,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. Capital Research Global Investors increased its position in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the period. Capital World Investors grew its position in shares of Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Alphabet by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after acquiring an additional 418,204 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in Alphabet by 9.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock valued at $4,237,426,000 after purchasing an additional 1,949,476 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GOOGL shares. Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Morgan Stanley lifted their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI increased their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $164.76 on Monday. The company has a market cap of $2.02 trillion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. The company’s fifty day moving average is $167.64 and its two-hundred day moving average is $170.36. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the business earned $1.55 EPS. Equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet Company Profile

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.