Bridges Investment Management Inc. Has $73.86 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Bridges Investment Management Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 387,827 shares of the information services provider’s stock after selling 18,919 shares during the quarter. Alphabet makes up about 1.0% of Bridges Investment Management Inc.’s holdings, making the stock its 28th largest holding. Bridges Investment Management Inc.’s holdings in Alphabet were worth $73,858,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. M&G PLC bought a new stake in shares of Alphabet during the third quarter worth $2,240,000. GPS Wealth Strategies Group LLC lifted its position in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after acquiring an additional 1,041 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC increased its holdings in Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at about $927,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 2.3 %

GOOG opened at $172.61 on Wednesday. The stock’s fifty day simple moving average is $191.13 and its 200 day simple moving average is $177.93. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The stock has a market cap of $2.10 trillion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. 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 (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GOOG shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,316 shares of company stock worth $25,062,887 over the last quarter. Company insiders own 12.99% of the company’s stock.

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.