Clal Insurance Enterprises Holdings Ltd Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,651,000 shares of the information services provider’s stock after acquiring an additional 6,000 shares during the period. Alphabet comprises about 2.4% of Clal Insurance Enterprises Holdings Ltd’s holdings, making the stock its 13th biggest position. Clal Insurance Enterprises Holdings Ltd’s holdings in Alphabet were worth $273,818,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nwam LLC lifted its holdings in shares of Alphabet by 2.1% in the third quarter. Nwam LLC now owns 60,187 shares of the information services provider’s stock valued at $9,982,000 after purchasing an additional 1,256 shares in the last quarter. Meridian Wealth Management LLC raised its position in shares of Alphabet by 1.7% during the 3rd quarter. Meridian Wealth Management LLC now owns 143,319 shares of the information services provider’s stock worth $23,770,000 after purchasing an additional 2,386 shares during the last quarter. Asset Management Group Inc. lifted its stake in Alphabet by 14.3% in the 3rd quarter. Asset Management Group Inc. now owns 14,483 shares of the information services provider’s stock valued at $2,402,000 after buying an additional 1,813 shares in the last quarter. Biltmore Family Office LLC grew its holdings in Alphabet by 8.4% during the 3rd quarter. Biltmore Family Office LLC now owns 21,940 shares of the information services provider’s stock valued at $3,639,000 after buying an additional 1,701 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in Alphabet by 0.9% during the third quarter. Raymond James Trust N.A. now owns 208,555 shares of the information services provider’s stock worth $34,589,000 after buying an additional 1,809 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America upped their price objective on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. The Goldman Sachs Group reduced their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,624 shares of company stock valued at $27,803,730. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.2 %

Shares of Alphabet stock opened at $174.71 on Friday. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $191.75. The firm has a market capitalization of $2.14 trillion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $169.30 and its 200-day moving average is $170.31.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm earned $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

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