US Bancorp DE Sells 33,327 Shares of Alphabet Inc. (NASDAQ:GOOG)

US Bancorp DE trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,032,163 shares of the information services provider’s stock after selling 33,327 shares during the quarter. US Bancorp DE’s holdings in Alphabet were worth $339,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Colonial River Wealth Management LLC lifted its holdings in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 107 shares in the last quarter. Oak Ridge Investments LLC lifted its position in Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after acquiring an additional 8,201 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after acquiring an additional 498 shares in the last quarter. Alliance Wealth Management Group lifted its position in Alphabet by 93.6% in the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after acquiring an additional 1,890 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Alphabet by 4.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock valued at $439,405,000 after acquiring an additional 115,716 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 2.0 %

Alphabet stock opened at $172.69 on Friday. Alphabet Inc. has a twelve month low of $123.93 and a twelve month high of $193.31. The stock has a market cap of $2.13 trillion, a P/E ratio of 22.90, a P/E/G ratio of 1.31 and a beta of 1.04. The company’s 50-day moving average price is $163.71 and its two-hundred day moving average price is $170.32. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the company posted $1.55 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 7.83 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,744 shares of company stock valued at $35,878,764. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on GOOG. Citigroup boosted their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group upped their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.