SevenBridge Financial Group LLC Has $18.13 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

SevenBridge Financial Group LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,831 shares of the information services provider’s stock after selling 1,079 shares during the quarter. Alphabet makes up 3.5% of SevenBridge Financial Group LLC’s portfolio, making the stock its 3rd largest holding. SevenBridge Financial Group LLC’s holdings in Alphabet were worth $18,130,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. OneAscent Financial Services LLC lifted its holdings in shares of Alphabet by 31.6% during the fourth quarter. OneAscent Financial Services LLC now owns 19,072 shares of the information services provider’s stock valued at $3,610,000 after acquiring an additional 4,575 shares during the period. Creekmur Asset Management LLC lifted its holdings in shares of Alphabet by 20.3% during the fourth quarter. Creekmur Asset Management LLC now owns 15,361 shares of the information services provider’s stock valued at $2,908,000 after acquiring an additional 2,593 shares during the period. Perritt Capital Management Inc lifted its holdings in shares of Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after acquiring an additional 58 shares during the period. DKM Wealth Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $405,000. Finally, Ardmore Road Asset Management LP acquired a new stake in shares of Alphabet in the fourth quarter valued at $28,584,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler lowered their target price on Alphabet from $208.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday. Roth Mkm restated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Wedbush raised their target price on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. KeyCorp lowered their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Finally, Westpark Capital upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, April 1st. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $206.51.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,797 shares of company stock worth $21,089,470. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Down 3.7 %

NASDAQ:GOOGL opened at $152.82 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $1.86 trillion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The business’s 50-day simple moving average is $169.50 and its 200-day simple moving average is $176.25.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

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.