Alphabet Inc. (NASDAQ:GOOG) Stake Lowered by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,414 shares of the information services provider’s stock after selling 667 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Alphabet were worth $16,796,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GOOG. Partnership Wealth Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at $26,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter worth $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet during the fourth quarter valued at about $34,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet during the 4th quarter worth about $34,000. Finally, Hoese & Co LLP increased its holdings in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,565 shares of company stock valued at $27,253,193. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock traded down $1.56 during midday trading on Wednesday, hitting $167.40. 1,173,380 shares of the company traded hands, compared to its average volume of 20,267,342. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The firm’s fifty day moving average price is $177.02 and its 200-day moving average price is $164.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Oppenheimer increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average target price of $182.86.

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.