Israel Discount Bank of New York Has $393,000 Holdings in Alphabet Inc. $GOOGL

Israel Discount Bank of New York trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 12.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,230 shares of the information services provider’s stock after selling 329 shares during the period. Alphabet accounts for approximately 1.5% of Israel Discount Bank of New York’s investment portfolio, making the stock its 22nd biggest position. Israel Discount Bank of New York’s holdings in Alphabet were worth $393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new position in Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. CarsonAllaria Wealth Management Ltd. boosted its position in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in Alphabet during the 1st quarter worth approximately $50,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.8%

Shares of NASDAQ:GOOGL opened at $276.41 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $292.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business’s 50-day moving average is $257.24 and its 200-day moving average is $208.59. The company has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOOGL shares. Citigroup reaffirmed a “buy” rating and set a $343.00 price target (up previously from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Jefferies Financial Group raised their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. BNP Paribas Exane upped their price target on Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. President Capital increased their price target on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, New Street Research raised their price objective on Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. This represents a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 221,796 shares of company stock worth $53,983,001 over the last ninety days. 11.55% of the stock is owned by company insiders.

About Alphabet

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.