Bank Hapoalim BM Has $10.70 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Bank Hapoalim BM increased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,490 shares of the information services provider's stock after acquiring an additional 1,497 shares during the quarter. Alphabet makes up 1.6% of Bank Hapoalim BM's holdings, making the stock its 16th largest holding. Bank Hapoalim BM's holdings in Alphabet were worth $10,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GOOG. ARQ Wealth Advisors LLC boosted its position in Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky lifted its position in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after buying an additional 1,376 shares during the last quarter. Harvest Investment Services LLC lifted its position in shares of Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after buying an additional 138 shares during the last quarter. North Forty Two & Co. bought a new position in shares of Alphabet in the fourth quarter worth about $281,000. Finally, Fermata Advisors LLC lifted its position in shares of Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 in the last quarter. Corporate insiders own 12.99% of the company's stock.

Alphabet Trading Down 1.4%

Shares of GOOG stock traded down $2.40 during trading hours on Tuesday, reaching $175.16. The company had a trading volume of 24,067,986 shares, compared to its average volume of 21,220,725. The company has a 50 day moving average of $170.28 and a 200 day moving average of $175.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The firm's quarterly revenue was up 12.0% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOG. UBS Group lowered their target price on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. KeyCorp lowered their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and six have issued a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $206.38.

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.