Bridges Investment Management Inc. Has $311.38 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bridges Investment Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 133.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,709,464 shares of the information services provider’s stock after purchasing an additional 975,817 shares during the period. Alphabet makes up about 4.7% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 5th largest position. Bridges Investment Management Inc.’s holdings in Alphabet were worth $311,379,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the fourth quarter worth approximately $30,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the first quarter valued at approximately $30,000. Kings Path Partners LLC purchased a new stake in Alphabet during the second quarter valued at approximately $36,000. Finally, Denver PWM LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GOOGL shares. Wedbush restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. DA Davidson assumed coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. TD Securities upped their price target on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Tigress Financial raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Guggenheim upped their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.14.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 217,592 shares of company stock worth $35,922,911. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $165.86 on Friday. The stock’s fifty day moving average price is $162.06 and its 200 day moving average price is $167.00. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the firm earned $1.44 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s payout ratio is 12.27%.

Alphabet Company Profile

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.