Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,629,043 shares of the information services provider’s stock after selling 37,982 shares during the period. Alphabet makes up 4.3% of Bridges Investment Management Inc.’s holdings, making the stock its 5th biggest holding. Bridges Investment Management Inc.’s holdings in Alphabet were worth $308,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Compass Planning Associates Inc purchased a new position in Alphabet in the fourth quarter worth approximately $30,000. LMR Partners LLP purchased a new position in Alphabet in the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter worth approximately $39,000. Finally, PayPay Securities Corp lifted its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares in the company, valued at $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 have sold 95,882 shares of company stock valued at $17,934,130 in the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $165.49 on Friday. Alphabet Inc. has a 12-month low of $140.03 and a 12-month high of $207.05. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 20.56, a P/E/G ratio of 1.34 and a beta of 1.02. The firm’s 50-day moving average is $185.70 and its two-hundred day moving average is $176.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. JPMorgan Chase & Co. decreased their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Robert W. Baird restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Bank of America restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet 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.