Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Seven Mile Advisory

Seven Mile Advisory boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 15.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,732 shares of the information services provider’s stock after buying an additional 2,050 shares during the period. Alphabet makes up approximately 1.9% of Seven Mile Advisory’s portfolio, making the stock its 9th biggest position. Seven Mile Advisory’s holdings in Alphabet were worth $2,996,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after purchasing an additional 264,962 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Alphabet during the third quarter valued at approximately $505,000. Tradition Wealth Management LLC grew its holdings in Alphabet by 8.3% during the third quarter. Tradition Wealth Management LLC now owns 13,533 shares of the information services provider’s stock worth $2,263,000 after buying an additional 1,037 shares in the last quarter. Semmax Financial Advisors Inc. raised its position in Alphabet by 5.4% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 10,729 shares of the information services provider’s stock valued at $1,967,000 after buying an additional 554 shares during the last quarter. Finally, Timber Creek Capital Management LLC lifted its stake in Alphabet by 3.1% during the 3rd quarter. Timber Creek Capital Management LLC now owns 68,194 shares of the information services provider’s stock valued at $11,401,000 after acquiring an additional 2,054 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on GOOG shares. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Scotiabank boosted their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.56.

Insider Buying and Selling at Alphabet

In other news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,992 shares of company stock valued at $16,097,111 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 4.9 %

Shares of Alphabet stock opened at $156.06 on Monday. The company’s 50-day moving average price is $181.53 and its 200-day moving average price is $178.69. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $148.20 and a 12-month high of $208.70. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly 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 net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

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.