US Bancorp DE Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

US Bancorp DE lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,126,835 shares of the information services provider’s stock after selling 13,902 shares during the period. US Bancorp DE’s holdings in Alphabet were worth $299,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOG. WealthPlan Investment Management LLC increased its stake in shares of Alphabet by 508.0% in the third quarter. WealthPlan Investment Management LLC now owns 56,632 shares of the information services provider’s stock worth $7,467,000 after acquiring an additional 47,317 shares during the period. Empirical Finance LLC lifted its holdings in shares of Alphabet by 8.9% in the 3rd quarter. Empirical Finance LLC now owns 184,890 shares of the information services provider’s stock valued at $24,378,000 after buying an additional 15,084 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of Alphabet by 0.9% in the third quarter. Bank Pictet & Cie Europe AG now owns 480,170 shares of the information services provider’s stock worth $63,310,000 after buying an additional 4,503 shares during the last quarter. CPA Asset Management LLC grew its holdings in Alphabet by 3.5% during the third quarter. CPA Asset Management LLC now owns 6,440 shares of the information services provider’s stock worth $849,000 after acquiring an additional 220 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Alphabet by 14.9% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,922 shares of the information services provider’s stock valued at $649,000 after acquiring an additional 640 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.4 %

NASDAQ GOOG traded down $2.45 on Thursday, reaching $175.55. 8,851,154 shares of the company were exchanged, compared to its average volume of 21,960,408. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $179.95. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $160.98 and its 200 day moving average price is $147.60. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the prior year, the company posted $1.17 EPS. The company’s quarterly revenue was up 15.4% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 7.7 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus boosted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $165.67.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,935 shares of company stock valued at $31,178,987. Corporate insiders own 12.99% of the company’s stock.

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.