Alphabet Inc. $GOOG Position Cut by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 80,909 shares of the information services provider’s stock after selling 5,074 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Alphabet were worth $14,352,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in GOOG. IFS Advisors LLC increased its position in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares during the period. Robbins Farley increased its position in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC increased its position in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Fairman Group LLC increased its position in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet in the 1st quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GOOG shares. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Cantor Fitzgerald set a $310.00 target price on Alphabet and gave the company a “neutral” rating in a research report on Thursday. KeyCorp reiterated an “overweight” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday. Piper Sandler lifted their price target on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Scotiabank set a $336.00 price target on Alphabet and gave the company a “sector outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $324.81.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 222,442 shares of company stock valued at $51,200,307. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $284.12 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.44 trillion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company’s 50-day moving average price is $246.09 and its two-hundred day moving average price is $202.22. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet 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.