Israel Discount Bank of New York Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Israel Discount Bank of New York cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,018 shares of the information services provider’s stock after selling 1,560 shares during the period. Alphabet accounts for 1.6% of Israel Discount Bank of New York’s investment portfolio, making the stock its 16th largest holding. Israel Discount Bank of New York’s holdings in Alphabet were worth $2,098,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOGL. FMR LLC boosted its holdings in shares of Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. Northern Trust Corp boosted its stake in Alphabet by 3.7% in the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after acquiring an additional 2,416,328 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Alphabet by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after purchasing an additional 335,219 shares during the last quarter. American Century Companies Inc. increased its position in shares of Alphabet by 7.8% during the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Alphabet by 9.3% during the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after purchasing an additional 2,058,221 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $171.25 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $151.40 and its 200 day moving average price is $142.83. Alphabet Inc. has a 52 week low of $105.16 and a 52 week high of $174.71. The stock has a market cap of $2.12 trillion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period in the prior year, the business earned $1.17 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 10th.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wedbush raised their price target on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Wells Fargo & Company raised their target price on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Jefferies Financial Group lifted their target price on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus increased their price target on shares of Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Wolfe Research lifted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $190.60.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,629 shares of company stock valued at $37,091,240. Corporate insiders own 0.88% of the company’s stock.

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.