SevenBridge Financial Group LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

SevenBridge Financial Group LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,626 shares of the information services provider’s stock after selling 210 shares during the period. SevenBridge Financial Group LLC’s holdings in Alphabet were worth $3,471,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GOOG. Tandem Wealth Advisors LLC purchased a new position in Alphabet during the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet during the 4th quarter worth $26,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter worth $26,000. Intrepid Capital Management Inc. purchased a new position in Alphabet during the 2nd quarter worth $31,000. Finally, Buck Wealth Strategies LLC purchased a new position in Alphabet during the 3rd quarter worth $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.4 %

Shares of NASDAQ:GOOG opened at $155.87 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $102.38 and a fifty-two week high of $157.00. The firm’s 50-day simple moving average is $145.15 and its 200-day simple moving average is $139.74. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter last year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average price target of $146.33.

Read Our Latest Research Report on GOOG

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the completion of the sale, the director now owns 6,784 shares in the company, valued at $973,436.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the transaction, the director now owns 6,784 shares of the company’s stock, valued at approximately $973,436.16. The disclosure for this sale can be found here. Insiders sold 228,239 shares of company stock worth $32,432,382 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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