Bridges Investment Management Inc. Sells 42,439 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bridges Investment Management Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,667,025 shares of the information services provider’s stock after selling 42,439 shares during the quarter. Alphabet accounts for about 3.9% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Bridges Investment Management Inc.’s holdings in Alphabet were worth $276,476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in GOOGL. MorganRosel Wealth Management LLC increased its stake in shares of Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares during the period. Hengehold Capital Management LLC grew its holdings in Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. First PREMIER Bank lifted its holdings in shares of Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after buying an additional 61 shares in the last quarter. Finally, MKT Advisors LLC boosted its position in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after acquiring an additional 62 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $164.76 on Friday. The company has a market capitalization of $2.02 trillion, a PE ratio of 21.85, a P/E/G ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50 day simple moving average of $167.64 and a two-hundred day simple moving average of $170.36.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the company posted $1.55 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Finally, KeyCorp upped their target price on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 in the last ninety days. 11.55% of the stock is owned by company insiders.

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.