Bridges Investment Management Inc. Sells 10,833 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bridges Investment Management Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 376,994 shares of the information services provider's stock after selling 10,833 shares during the period. Bridges Investment Management Inc.'s holdings in Alphabet were worth $58,898,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC grew its position in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the first quarter valued at $26,000. LSV Asset Management purchased a new position in Alphabet during the 4th quarter valued at $27,000. Goodman Advisory Group LLC purchased a new position in Alphabet during the 1st quarter valued at $32,000. Finally, WealthTrak Capital Management LLC purchased a new position in Alphabet during the 4th quarter valued at $38,000. Institutional investors own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,643 shares of company stock worth $36,330,928. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

GOOG traded up $1.04 during midday trading on Thursday, hitting $178.70. 24,662,719 shares of the company traded hands, compared to its average volume of 21,392,163. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.17 trillion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. The company's 50-day moving average is $171.19 and its 200 day moving average is $175.18. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Analysts Set New Price Targets

A number of research analysts have issued reports on GOOG shares. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday. UBS Group reissued a "buy" rating on shares of Alphabet in a research report on Wednesday. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $207.63.

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.