Seven Mile Advisory Lowers Stake in Alphabet Inc. $GOOGL

Seven Mile Advisory cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,782 shares of the information services provider’s stock after selling 3,105 shares during the quarter. Alphabet makes up about 1.0% of Seven Mile Advisory’s investment portfolio, making the stock its 28th largest position. Seven Mile Advisory’s holdings in Alphabet were worth $5,879,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Sargent Investment Group LLC lifted its stake in Alphabet by 4.7% in the fourth quarter. Sargent Investment Group LLC now owns 58,121 shares of the information services provider’s stock worth $18,192,000 after acquiring an additional 2,583 shares during the period. Saber Capital Managment LLC purchased a new stake in Alphabet in the fourth quarter worth about $3,179,000. MLP3 LLC purchased a new stake in Alphabet in the fourth quarter worth about $455,000. Mariner LLC lifted its stake in Alphabet by 5.3% in the fourth quarter. Mariner LLC now owns 4,419,825 shares of the information services provider’s stock worth $1,383,461,000 after acquiring an additional 221,309 shares during the period. Finally, Niles Investment Management LLC purchased a new stake in Alphabet in the fourth quarter worth about $3,307,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the transaction, the chief executive officer owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. This trade represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 191,966 shares of company stock valued at $16,963,968. 11.61% of the stock is owned by company insiders.

Alphabet Stock Performance

GOOGL stock opened at $369.35 on Tuesday. The firm has a market cap of $4.48 trillion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.54 and a beta of 1.23. The firm has a 50-day simple moving average of $361.93 and a two-hundred day simple moving average of $330.66. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. On average, equities analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is currently 6.71%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. Wolfe Research lowered their price objective on shares of Alphabet from $390.00 to $360.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Arete Research upped their price objective on shares of Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Tigress Financial set a $415.00 price objective on shares of Alphabet and gave the stock a “strong-buy” rating in a research note on Thursday, February 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Finally, Cantor Fitzgerald upped their price objective on shares of Alphabet from $395.00 to $465.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $413.13.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s legal action against an AI-enabled scam network highlights Alphabet’s role in fighting online fraud and may strengthen trust in its security ecosystem. AI Scam Surge Prompts Google to File Lawsuit
• Positive Sentiment: Analysts and market commentary continue to point to Alphabet as a key AI winner, with Gemini, cloud spending, and enterprise demand seen as long-term growth drivers. 3 AI Stocks Poised for Long-Term Gains Despite Strong Year-to-Date Performance
• Positive Sentiment: Berkshire Hathaway’s increased stake in Alphabet adds a high-profile endorsement and suggests long-term confidence in the stock’s AI and platform value. Berkshire Hathaway’s Greg Abel Just Made a Big Bet on Who Will Win the AI Races

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.