Harel Insurance Investments & Financial Services Ltd. Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Harel Insurance Investments & Financial Services Ltd. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,355 shares of the information services provider’s stock after selling 16,208 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Alphabet were worth $12,877,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOG. DC Investments Management LLC purchased a new position in shares of Alphabet in the first quarter worth about $115,000. Guardian Wealth Management Inc. bought a new stake in shares of Alphabet in the first quarter worth about $184,000. Turim 21 Investimentos Ltda. grew its stake in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares during the last quarter. qPULA Trading Management LP bought a new stake in shares of Alphabet in the first quarter worth about $279,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Alphabet by 29.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $156.00 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock’s 50 day simple moving average is $146.95 and its two-hundred day simple moving average is $141.51. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $161.70. The stock has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the previous year, the firm posted $1.05 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOOG shares. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James raised their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $159.86.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 228,839 shares of company stock worth $32,835,757 in the last three months. Insiders own 12.99% of the company’s stock.

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.