Harel Insurance Investments & Financial Services Ltd. Has $124.18 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 803,032 shares of the information services provider's stock after purchasing an additional 38,360 shares during the period. Alphabet comprises about 1.6% of Harel Insurance Investments & Financial Services Ltd.'s holdings, making the stock its 17th biggest holding. Harel Insurance Investments & Financial Services Ltd.'s holdings in Alphabet were worth $124,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of GOOGL. Anderson Financial Strategies LLC acquired a new position in Alphabet in the 4th quarter worth about $49,000. EQ Wealth Advisors LLC acquired a new position in Alphabet in the 1st quarter worth about $49,000. Navigoe LLC acquired a new position in Alphabet in the 4th quarter worth about $51,000. Prudent Man Investment Management Inc. acquired a new position in Alphabet in the 4th quarter worth about $53,000. Finally, Campbell Capital Management Inc. acquired a new position in Alphabet in the 4th quarter worth about $57,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on GOOGL shares. Wells Fargo & Company upped their target price on Alphabet from $175.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Piper Sandler upped their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Susquehanna dropped their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. Tigress Financial increased their price objective on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Wednesday, June 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $199.61.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company's stock, valued at $44,695,000. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last three months. Corporate insiders own 11.64% of the company's stock.

Alphabet Price Performance

GOOGL stock traded up $2.57 during midday trading on Friday, reaching $180.19. 34,243,157 shares of the company's stock traded hands, compared to its average volume of 31,915,001. The company has a 50-day simple moving average of $170.32 and a two-hundred day simple moving average of $173.31. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

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.