Bridges Investment Management Inc. Has $281.71 Million Stock Holdings in Alphabet Inc. $GOOGL

Bridges Investment Management Inc. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,598,545 shares of the information services provider’s stock after selling 21,667 shares during the period. Alphabet comprises 3.8% of Bridges Investment Management Inc.’s portfolio, making the stock its 6th largest holding. Bridges Investment Management Inc.’s holdings in Alphabet were worth $281,712,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Mystic Asset Management Inc. lifted its stake in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co grew its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC raised its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after buying an additional 563 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after buying an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC raised its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,150 shares of company stock worth $55,805,379. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 2.7%

Shares of GOOGL opened at $259.92 on Monday. The firm has a market capitalization of $3.14 trillion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.75 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business’s fifty day moving average price is $236.72 and its two-hundred day moving average price is $195.85. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $261.68.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent research reports. Bank of America increased their target price on Alphabet from $252.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Wolfe Research increased their target price on Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Morgan Stanley set a $270.00 target price on Alphabet and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Loop Capital increased their target price on Alphabet from $190.00 to $260.00 and gave the stock a “hold” rating in a report on Friday. Finally, HSBC assumed coverage on Alphabet in a report on Tuesday, October 7th. They issued a “buy” rating and a $285.00 target price for the company. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $263.55.

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.