SevenBridge Financial Group LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

SevenBridge Financial Group LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,903 shares of the information services provider’s stock after purchasing an additional 162 shares during the period. Alphabet comprises 0.9% of SevenBridge Financial Group LLC’s portfolio, making the stock its 29th largest holding. SevenBridge Financial Group LLC’s holdings in Alphabet were worth $4,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Weiss Asset Management LP bought a new stake in Alphabet during the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth $27,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet during the third quarter valued at about $33,000. WealthTrak Capital Management LLC purchased a new stake in Alphabet in the fourth quarter worth about $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 88,665 shares of company stock valued at $16,198,310. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.7 %

Shares of GOOG opened at $158.88 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $179.89 and a 200 day moving average of $178.70. The company has a market cap of $1.94 trillion, a PE ratio of 19.74, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $148.20 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GOOG shares. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.65.

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.