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

SevenBridge Financial Group LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,626 shares of the information services provider’s stock after selling 210 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Alphabet were worth $3,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its holdings in Alphabet by 61,587.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares during the last quarter. FMR LLC grew its holdings in Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after purchasing an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. Morgan Stanley grew its holdings in Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after purchasing an additional 19,612,974 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Alphabet by 2.3% during the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after buying an additional 1,275,060 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GOOG shares. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average price target of $146.33.

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Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 228,239 shares of company stock worth $32,432,382 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.4 %

NASDAQ GOOG opened at $155.87 on Wednesday. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.87, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a fifty day moving average of $145.15 and a 200 day moving average of $139.74. Alphabet Inc. has a 1 year low of $102.38 and a 1 year high of $157.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. Research analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.

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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