Alphabet Inc (GOOGL) Stake Lowered by Bridges Investment Counsel Inc.

Bridges Investment Counsel Inc. decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 71.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,859 shares of the information services provider’s stock after selling 4,641 shares during the quarter. Bridges Investment Counsel Inc.’s holdings in Alphabet were worth $1,810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after buying an additional 662,279 shares in the last quarter. BlackRock Inc. boosted its stake in Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after buying an additional 567,337 shares in the last quarter. FMR LLC boosted its stake in Alphabet by 2.1% in the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after buying an additional 367,634 shares in the last quarter. State Street Corp boosted its stake in Alphabet by 1.2% in the first quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock worth $10,128,119,000 after buying an additional 142,214 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Alphabet by 2.4% in the second quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock worth $4,005,243,000 after buying an additional 102,133 shares in the last quarter. 33.62% of the stock is owned by institutional investors.

Alphabet Inc (GOOGL) opened at $1,072.00 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The company has a market capitalization of $744,826.69, a P/E ratio of 35.89, a P/E/G ratio of 1.80 and a beta of 0.89. Alphabet Inc has a twelve month low of $789.62 and a twelve month high of $1,080.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating analysts’ consensus estimates of $8.43 by $1.14. The company had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same quarter in the prior year, the company earned $9.06 earnings per share. research analysts expect that Alphabet Inc will post 32.34 EPS for the current year.

Several brokerages have issued reports on GOOGL. Bank of America reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a research note on Tuesday, September 26th. B. Riley reaffirmed a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a research note on Monday, September 25th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $1,250.00 target price on shares of Alphabet in a research note on Wednesday, September 27th. Cantor Fitzgerald reissued a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Thursday, September 21st. Finally, Susquehanna Bancshares reissued a “positive” rating and set a $1,200.00 price objective on shares of Alphabet in a research note on Thursday, September 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,089.17.

ILLEGAL ACTIVITY WARNING: This piece was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://sportsperspectives.com/2017/12/18/alphabet-inc-googl-stake-lowered-by-bridges-investment-counsel-inc.html.

Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply