Bridges Investment Management Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,293 shares of the information services provider’s stock after acquiring an additional 227 shares during the period. Alphabet accounts for approximately 1.3% of Bridges Investment Management Inc.’s holdings, making the stock its 20th biggest position. Bridges Investment Management Inc.’s holdings in Alphabet were worth $16,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $108,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $123,000. Stelac Advisory Services LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $126,000. Lee Financial Co lifted its holdings in shares of Alphabet by 500.0% in 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 acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $137,000. 34.38% of the stock is owned by hedge funds and other institutional investors.

Alphabet stock opened at $1,084.09 on Thursday. The company has a quick ratio of 4.85, a current ratio of 4.87 and a debt-to-equity ratio of 0.02. The firm has a market cap of $769.03 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 1.58 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $1,081.68 and a fifty-two week high of $1,094.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, April 23rd. The information services provider reported $9.93 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $24.20 billion. During the same quarter last year, the firm earned $7.73 earnings per share. research analysts anticipate that Alphabet Inc. will post 40.75 EPS for the current year.

Alphabet announced that its board has initiated a stock repurchase program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several analysts have recently commented on the company. Wells Fargo reissued a “buy” rating and issued a $1,275.00 price target on shares of Alphabet in a report on Friday, February 2nd. Oppenheimer raised their price target on Alphabet from $1,180.00 to $1,340.00 and gave the company a “hold” rating in a report on Friday, February 2nd. TheStreet raised Alphabet from a “c+” rating to an “a-” rating in a report on Monday, April 23rd. William Blair reissued an “outperform” rating on shares of Alphabet in a report on Thursday, February 1st. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $1,285.00 price target on shares of Alphabet in a report on Friday, February 2nd. Five 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. The stock has an average rating of “Buy” and an average target price of $1,201.19.

Alphabet Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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