SevenBridge Financial Group LLC Acquires 4,107 Shares of Alphabet Inc. (NASDAQ:GOOGL)

SevenBridge Financial Group LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 98,910 shares of the information services provider’s stock after purchasing an additional 4,107 shares during the period. Alphabet comprises 3.2% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 5th largest holding. SevenBridge Financial Group LLC’s holdings in Alphabet were worth $17,838,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter valued at $41,000. Finally, Quarry LP purchased a new stake in Alphabet during the 2nd quarter worth $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,624 shares of company stock valued at $27,803,730. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL 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 company has a market cap of $2.14 trillion, a PE ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01. The stock has a 50 day simple moving average of $169.51 and a 200-day simple moving average of $170.24. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of analyst reports. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. DA Davidson initiated coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Roth Mkm increased their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI lifted their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.