SevenBridge Financial Group LLC Sells 1,792 Shares of Alphabet Inc. $GOOGL

SevenBridge Financial Group LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,075 shares of the information services provider’s stock after selling 1,792 shares during the period. Alphabet comprises 2.9% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 4th largest holding. SevenBridge Financial Group LLC’s holdings in Alphabet were worth $16,050,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Alphabet in the 2nd quarter valued at approximately $21,944,208,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Alphabet by 17,667.7% during the second quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock worth $2,686,640,000 after purchasing an additional 15,159,273 shares during the period. Franklin Resources Inc. grew its stake in shares of Alphabet by 51.7% in the second quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock worth $5,607,232,000 after purchasing an additional 10,843,853 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock worth $91,033,300,000 after purchasing an additional 6,733,278 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $308.22 on Tuesday. The stock has a market capitalization of $3.72 trillion, a price-to-earnings ratio of 30.40, a PEG ratio of 1.79 and a beta of 1.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $328.83. The stock’s 50 day moving average price is $284.30 and its two-hundred day moving average price is $230.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 222,750 shares of company stock valued at $60,496,098 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on GOOGL. China Renaissance lifted their target price on Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Wells Fargo & Company lifted their price objective on Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. CICC Research increased their target price on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Alphabet from $340.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.22.

About Alphabet

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.