Harel Insurance Investments & Financial Services Ltd. Has $139.75 Million Stake in Alphabet Inc. $GOOGL

Harel Insurance Investments & Financial Services Ltd. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 792,974 shares of the information services provider’s stock after selling 10,058 shares during the period. Alphabet makes up 1.6% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 18th biggest position. Harel Insurance Investments & Financial Services Ltd.’s holdings in Alphabet were worth $139,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Alphabet by 3.9% in the fourth 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 period. Revolve Wealth Partners LLC grew its stake in 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 acquiring an additional 506 shares during the period. Smart Money Group LLC increased its holdings 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 worth $956,000 after acquiring an additional 532 shares in the last quarter. Main Street Research LLC increased its holdings in shares of Alphabet by 2.2% in the first quarter. Main Street Research LLC now owns 287,165 shares of the information services provider’s stock worth $44,407,000 after acquiring an additional 6,127 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its position in shares of Alphabet by 8.3% during the first quarter. Leavell Investment Management Inc. now owns 40,271 shares of the information services provider’s stock worth $6,228,000 after purchasing an additional 3,085 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 2.8%

Shares of NASDAQ:GOOGL opened at $278.57 on Friday. The company’s 50-day moving average price is $256.42 and its two-hundred day moving average price is $207.79. Alphabet Inc. has a one year low of $140.53 and a one 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 stock has a market capitalization of $3.36 trillion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating 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 company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GOOGL. Daiwa Capital Markets increased their target price on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. UBS Group reiterated a “neutral” rating and issued a $306.00 price target (up previously from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Oppenheimer raised their price objective on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.10.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% 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 221,796 shares of company stock worth $53,983,001. Insiders own 11.55% 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.