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

SevenBridge Financial Group LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,910 shares of the information services provider’s stock after acquiring an additional 4,107 shares during the quarter. Alphabet comprises approximately 3.2% of SevenBridge Financial Group LLC’s portfolio, making the stock its 5th biggest position. SevenBridge Financial Group LLC’s holdings in Alphabet were worth $17,838,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOGL. CWM LLC raised its holdings in shares of Alphabet by 11.9% in the second quarter. CWM LLC now owns 892,834 shares of the information services provider’s stock valued at $162,630,000 after buying an additional 94,669 shares during the last quarter. Svenska Handelsbanken AB publ acquired a new position in Alphabet in the 2nd quarter valued at about $29,931,000. Thomasville National Bank raised its stake in Alphabet by 2.7% during the 2nd quarter. Thomasville National Bank now owns 8,479 shares of the information services provider’s stock valued at $1,544,000 after acquiring an additional 220 shares during the last quarter. Bennett Selby Investments LP acquired a new stake in Alphabet during the 2nd quarter worth approximately $237,000. Finally, Renaissance Investment Group LLC grew its stake in shares of Alphabet by 0.6% in the 2nd quarter. Renaissance Investment Group LLC now owns 99,078 shares of the information services provider’s stock valued at $18,724,000 after purchasing an additional 555 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOGL. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Roth Mkm increased their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

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 firm has a market cap of $2.14 trillion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The company’s 50-day moving average is $169.51 and its two-hundred day moving average is $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 quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock valued at $27,803,730 over the last quarter. Company insiders own 11.55% of the company’s stock.

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.