Seven Mile Advisory Purchases 2,050 Shares of Alphabet Inc. (NASDAQ:GOOG)

Seven Mile Advisory raised its position in Alphabet Inc. (NASDAQ:GOOG) by 15.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,732 shares of the information services provider’s stock after acquiring an additional 2,050 shares during the period. Alphabet comprises approximately 1.9% of Seven Mile Advisory’s holdings, making the stock its 9th largest holding. Seven Mile Advisory’s holdings in Alphabet were worth $2,996,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Alphabet by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after purchasing an additional 259,213 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Alphabet by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock valued at $5,870,181,000 after purchasing an additional 875,480 shares during the last quarter. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth $5,166,070,000. Principal Financial Group Inc. grew its holdings in shares of Alphabet by 2.5% during the third 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 during the last quarter. Finally, Swedbank AB increased its stake in shares of Alphabet by 1.7% in the fourth quarter. Swedbank AB now owns 8,483,070 shares of the information services provider’s stock valued at $1,615,516,000 after buying an additional 144,170 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GOOG shares. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, The Goldman Sachs Group reissued 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 issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.56.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,690 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. This represents a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,992 shares of company stock worth $16,097,111 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $156.06 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50-day moving average of $181.53 and a 200-day moving average of $178.69. The stock has a market capitalization 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 Inc. has a fifty-two week low of $148.20 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 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.