Bank Hapoalim BM Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Bank Hapoalim BM cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,130 shares of the information services provider’s stock after selling 433 shares during the period. Alphabet makes up about 1.8% of Bank Hapoalim BM’s portfolio, making the stock its 17th largest holding. Bank Hapoalim BM’s holdings in Alphabet were worth $11,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Meitav Investment House Ltd. lifted its position in shares of Alphabet by 9.1% in the third quarter. Meitav Investment House Ltd. now owns 358,333 shares of the information services provider’s stock valued at $59,463,000 after acquiring an additional 29,902 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Alphabet by 1.5% during the 3rd quarter. Catalyst Financial Partners LLC now owns 31,927 shares of the information services provider’s stock valued at $5,338,000 after acquiring an additional 459 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Alphabet by 32.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,536 shares of the information services provider’s stock valued at $257,000 after purchasing an additional 375 shares during the last quarter. Goldstone Financial Group LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at approximately $461,000. Finally, S.A. Mason LLC grew its position in Alphabet by 1.5% in the third quarter. S.A. Mason LLC now owns 5,325 shares of the information services provider’s stock worth $890,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOG. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,744 shares of company stock worth $35,878,764 in the last 90 days. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $172.69 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $123.93 and a 12 month high of $193.31. The firm has a market capitalization of $2.13 trillion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The business’s fifty day moving average price is $163.71 and its 200 day moving average price is $170.32.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.83 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

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.