Harel Insurance Investments & Financial Services Ltd. Sells 2,585 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Harel Insurance Investments & Financial Services Ltd. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 764,672 shares of the information services provider’s stock after selling 2,585 shares during the quarter. Alphabet accounts for about 2.4% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 14th biggest position. Harel Insurance Investments & Financial Services Ltd.’s holdings in Alphabet were worth $144,752,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GOOGL. LMR Partners LLP bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. Denver PWM LLC boosted its stake in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the period. Quarry LP purchased a new stake in Alphabet in the second quarter worth about $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the third quarter worth about $66,000. Finally, Mendota Financial Group LLC lifted its stake in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOGL. Loop Capital upped their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Truist Financial increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.82.

Alphabet Stock Performance

Shares of Alphabet stock opened at $200.87 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $187.53 and its 200 day moving average is $173.84. The stock has a market cap of $2.46 trillion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the firm posted $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,630 shares of company stock valued at $22,258,133 in the last three months. Company 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.