SevenBridge Financial Group LLC reduced its holdings in Alphabet Inc (NASDAQ:GOOGL) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,396 shares of the information services provider’s stock after selling 15 shares during the period. Alphabet comprises about 2.8% of SevenBridge Financial Group LLC’s holdings, making the stock its 3rd largest holding. SevenBridge Financial Group LLC’s holdings in Alphabet were worth $5,368,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GOOGL. Belvedere Advisors LLC acquired a new position in Alphabet in the 1st quarter worth about $38,000. Litman Gregory Asset Management LLC acquired a new position in Alphabet in the 2nd quarter worth about $37,000. Thor Advisors LLC acquired a new position in Alphabet in the 1st quarter worth about $45,000. Lipe & Dalton acquired a new position in Alphabet in the 2nd quarter worth about $49,000. Finally, Johnson Financial Group Inc. increased its holdings in shares of Alphabet by 26.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock valued at $52,000 after acquiring an additional 10 shares during the last quarter. 33.50% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:GOOGL traded up $10.16 during mid-day trading on Wednesday, hitting $1,200.29. 110,264 shares of the company’s stock traded hands, compared to its average volume of 1,570,821. The firm has a 50 day moving average of $1,205.66 and a two-hundred day moving average of $1,174.22. Alphabet Inc has a 12 month low of $977.66 and a 12 month high of $1,296.97. The firm has a market capitalization of $831.72 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. As a group, equities research analysts expect that Alphabet Inc will post 51.29 earnings per share for the current year.

A number of research analysts have recently commented on GOOGL shares. JPMorgan Chase & Co. increased their price objective on Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a report on Friday, July 26th. Stifel Nicolaus reissued a “hold” rating and set a $1,287.00 price objective on shares of Alphabet in a report on Tuesday, July 23rd. Credit Suisse Group increased their price objective on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a report on Friday, July 26th. FBN Securities set a $1,400.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Oppenheimer set a $1,370.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,375.78.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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