Clal Insurance Enterprises Holdings Ltd Has $43.25 Million Stake in Alphabet Inc. $GOOGL

Clal Insurance Enterprises Holdings Ltd reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 54.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,411 shares of the information services provider’s stock after selling 288,442 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Alphabet were worth $43,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new stake in Alphabet in the second quarter worth approximately $31,000. NBZ Investment Advisors LLC grew its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $50,000. Finally, S&T Bank PA boosted its stake in Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after acquiring an additional 99 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 1.8%

GOOGL stock opened at $314.49 on Tuesday. The firm has a market capitalization of $3.79 trillion, a PE ratio of 31.01, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83. The stock’s 50 day moving average is $270.48 and its 200-day moving average is $220.62.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 225,072 shares of company stock worth $58,074,027. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOGL. Cantor Fitzgerald lifted their price target on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 target price (up from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Guggenheim reiterated a “buy” rating and issued a $375.00 price target (up previously from $330.00) on shares of Alphabet in a report on Monday. Wells Fargo & Company raised their price objective on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Finally, DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $308.73.

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.