Bank Hapoalim BM Sells 12,360 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 9th, 2023

Bank Hapoalim BM cut its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,199 shares of the information services provider’s stock after selling 12,360 shares during the quarter. Alphabet comprises about 1.7% of Bank Hapoalim BM’s holdings, making the stock its 19th largest position. Bank Hapoalim BM’s holdings in Alphabet were worth $13,859,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after buying an additional 400,930,216 shares during the period. BlackRock Inc. increased its stake in shares of Alphabet by 1,857.3% in the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after acquiring an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 1,770.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after acquiring an additional 192,607,045 shares during the period. State Street Corp boosted its stake in Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after acquiring an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Alphabet by 1,862.3% in the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after purchasing an additional 59,964,963 shares during the period. 28.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group set a $128.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Piper Sandler cut their price target on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Raymond James increased their target price on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Finally, Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research note on Friday, February 3rd. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 29,006 shares of the stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the transaction, the insider now owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,192 shares of company stock valued at $11,373,417. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 3.8 %

NASDAQ GOOG opened at $108.90 on Friday. The business’s fifty day moving average is $98.63 and its 200-day moving average is $96.42. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.45 and a beta of 1.10. Alphabet Inc. has a one year low of $83.45 and a one year high of $137.70.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. During the same period in the prior year, the firm posted $1.53 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 5.11 EPS for the current year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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