SevenBridge Financial Group LLC Has $12.62 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

SevenBridge Financial Group LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,720 shares of the information services provider’s stock after selling 53 shares during the period. Alphabet makes up approximately 4.2% of SevenBridge Financial Group LLC’s portfolio, making the stock its 3rd biggest position. SevenBridge Financial Group LLC’s holdings in Alphabet were worth $12,619,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GOOGL. Laurel Wealth Planning LLC bought a new stake in Alphabet in the 2nd quarter valued at about $27,000. True Link Financial Advisors LLC purchased a new position in shares of Alphabet in the 2nd quarter worth approximately $29,000. Financial Insights Inc. purchased a new position in shares of Alphabet in the 2nd quarter worth approximately $39,000. Harvest Group Wealth Management LLC purchased a new position in shares of Alphabet in the 2nd quarter worth approximately $66,000. Finally, Cowen Prime Advisors LLC purchased a new position in shares of Alphabet in the 2nd quarter worth approximately $98,000. 34.30% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Alphabet from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 2nd. KeyCorp lifted their price target on shares of Alphabet from $3,071.00 to $3,090.00 and gave the stock an “overweight” rating in a report on Wednesday, October 27th. Argus lifted their price target on shares of Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a report on Thursday, July 29th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $3,400.00 price target (up previously from $3,100.00) on shares of Alphabet in a report on Wednesday, October 27th. Finally, MKM Partners lifted their price target on shares of Alphabet from $2,500.00 to $3,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Four investment analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average price target of $3,156.15.

Shares of NASDAQ GOOGL opened at $2,922.40 on Thursday. The company has a 50 day simple moving average of $2,850.18 and a two-hundred day simple moving average of $2,668.40. Alphabet Inc. has a fifty-two week low of $1,694.00 and a fifty-two week high of $3,019.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.96 and a current ratio of 2.98. The company has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 1.07 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 EPS for the quarter, beating the Zacks’ consensus estimate of $23.13 by $4.86. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. During the same quarter in the previous year, the business earned $16.40 EPS. On average, analysts forecast that Alphabet Inc. will post 107.86 earnings per share for the current fiscal year.

Alphabet Company Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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