Harel Insurance Investments & Financial Services Ltd. Sells 10,058 Shares of Alphabet Inc. $GOOGL

Harel Insurance Investments & Financial Services Ltd. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 792,974 shares of the information services provider’s stock after selling 10,058 shares during the quarter. Alphabet comprises 1.6% of Harel Insurance Investments & Financial Services Ltd.’s investment portfolio, making the stock its 18th largest holding. Harel Insurance Investments & Financial Services Ltd.’s holdings in Alphabet were worth $139,746,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC grew its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the period. Smart Money Group LLC lifted its stake in shares of Alphabet by 9.4% in the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after buying an additional 532 shares during the period. Main Street Research LLC grew its position in Alphabet by 2.2% during the first quarter. Main Street Research LLC now owns 287,165 shares of the information services provider’s stock worth $44,407,000 after buying an additional 6,127 shares in the last quarter. Finally, Leavell Investment Management Inc. increased its stake in Alphabet by 8.3% during the first quarter. Leavell Investment Management Inc. now owns 40,271 shares of the information services provider’s stock valued at $6,228,000 after acquiring an additional 3,085 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Mizuho set a $325.00 target price on Alphabet in a research note on Thursday, October 30th. Citic Securities lifted their price target on shares of Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Oppenheimer raised their price target on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Finally, Evercore ISI lifted their price objective on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 221,796 shares of company stock worth $53,983,001 in the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $278.57 on Friday. The stock has a market capitalization of $3.36 trillion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $292.01. The firm has a 50 day moving average of $256.42 and a 200-day moving average of $207.79.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.