Bridges Investment Counsel Inc. Cuts Stake in Alphabet Inc. (GOOGL)


Bridges Investment Counsel Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,709 shares of the information services provider’s stock after selling 150 shares during the quarter. Alphabet accounts for approximately 1.0% of Bridges Investment Counsel Inc.’s portfolio, making the stock its 29th largest holding. Bridges Investment Counsel Inc.’s holdings in Alphabet were worth $1,800,000 at the end of the most recent quarter.


Several other institutional investors have also recently added to or reduced their stakes in the company. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Alphabet during the 4th quarter valued at about $108,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at about $123,000. Stelac Advisory Services LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $126,000. Lee Financial Co raised its holdings in shares of Alphabet by 500.0% during the 4th quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock valued at $126,000 after buying an additional 100 shares during the period. Finally, Wealthcare Advisory Partners LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $137,000. Institutional investors own 34.38% of the company’s stock.


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Several equities research analysts recently commented on GOOGL shares. Barclays raised their target price on Alphabet from $1,260.00 to $1,330.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,192.20 target price on the stock in a report on Friday, March 23rd. B. Riley raised their target price on Alphabet from $1,200.00 to $1,375.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Deutsche Bank reiterated a “buy” rating and set a $1,400.00 target price on shares of Alphabet in a report on Monday, January 29th. Finally, Canaccord Genuity restated a “hold” rating on shares of Alphabet in a research note on Tuesday, April 24th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,201.19.


Alphabet opened at $1,084.87 on Wednesday, Marketbeat reports. Alphabet Inc. has a 12-month low of $1,079.22 and a 12-month high of $1,099.87. The company has a market cap of $766.79 billion, a P/E ratio of 33.85, a P/E/G ratio of 1.57 and a beta of 1.05. The company has a quick ratio of 4.85, a current ratio of 4.87 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, April 23rd. The information services provider reported $9.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $9.21 by $0.72. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The business had revenue of $24.86 billion during the quarter, compared to analyst estimates of $24.20 billion. During the same quarter in the previous year, the firm posted $7.73 EPS. equities analysts expect that Alphabet Inc. will post 40.75 EPS for the current fiscal year.


Alphabet declared that its board has initiated a share buyback plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.


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