Migdal Insurance & Financial Holdings Ltd. Raises Position in Alphabet Inc (GOOG)

Migdal Insurance & Financial Holdings Ltd. increased its position in Alphabet Inc (NASDAQ:GOOG) by 18.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,624 shares of the information services provider’s stock after buying an additional 7,846 shares during the quarter. Alphabet comprises about 1.1% of Migdal Insurance & Financial Holdings Ltd.’s investment portfolio, making the stock its 24th biggest position. Migdal Insurance & Financial Holdings Ltd.’s holdings in Alphabet were worth $47,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Perennial Advisors LLC raised its position in Alphabet by 8.7% in the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after purchasing an additional 260 shares during the period. One Capital Management LLC raised its position in Alphabet by 5.0% in the second quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock valued at $2,920,000 after purchasing an additional 154 shares during the period. Northeast Investment Management raised its position in Alphabet by 4.4% in the second quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock valued at $11,521,000 after purchasing an additional 537 shares during the period. Taurus Asset Management LLC raised its position in Alphabet by 0.9% in the second quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock valued at $23,591,000 after purchasing an additional 220 shares during the period. Finally, AKO Capital LLP raised its position in Alphabet by 6.8% in the second quarter. AKO Capital LLP now owns 51,624 shares of the information services provider’s stock valued at $46,912,000 after purchasing an additional 3,289 shares during the period. 34.65% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Inc (NASDAQ GOOG) opened at $1,137.51 on Friday. The company has a market capitalization of $790,343.13, a PE ratio of 38.08 and a beta of 0.93. Alphabet Inc has a 52 week low of $790.52 and a 52 week high of $1,139.91. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Zacks’ consensus estimate of $8.31 by $1.26. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the firm earned $9.06 earnings per share.

In other Alphabet news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $1,048.34, for a total value of $191,846.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $1,127.17, for a total value of $4,508,680.00. Following the completion of the transaction, the chief executive officer now owns 656 shares of the company’s stock, valued at $739,423.52. The disclosure for this sale can be found here. Insiders sold 36,900 shares of company stock valued at $38,411,507 over the last quarter. Insiders own 13.92% of the company’s stock.

Several research analysts have commented on the company. Morningstar reissued a “neutral” rating on shares of Alphabet in a research report on Friday. SunTrust Banks raised their price objective on Alphabet to $1,250.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. Piper Jaffray Companies raised their price objective on Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Finally, UBS Group reissued a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,052.31.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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