Alphabet Inc (NASDAQ:GOOG) Shares Sold by US Bancorp DE

US Bancorp DE reduced its stake in Alphabet Inc (NASDAQ:GOOG) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,847 shares of the information services provider’s stock after selling 784 shares during the period. US Bancorp DE’s holdings in Alphabet were worth $142,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Lunia Capital LP raised its stake in Alphabet by 135,522.5% in the fourth quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock valued at $16,870,000 after buying an additional 16,857,647 shares in the last quarter. Investec Asset Management LTD raised its stake in Alphabet by 2,660.9% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the information services provider’s stock valued at $19,478,000 after buying an additional 625,018 shares in the last quarter. PenderFund Capital Management Ltd. raised its stake in Alphabet by 127,265.7% in the second quarter. PenderFund Capital Management Ltd. now owns 445,780 shares of the information services provider’s stock valued at $4,906,000 after buying an additional 445,430 shares in the last quarter. Nordea Investment Management AB raised its stake in Alphabet by 129.3% in the fourth quarter. Nordea Investment Management AB now owns 723,309 shares of the information services provider’s stock valued at $755,828,000 after buying an additional 407,812 shares in the last quarter. Finally, Polen Capital Management LLC raised its stake in Alphabet by 19.3% in the second quarter. Polen Capital Management LLC now owns 1,319,627 shares of the information services provider’s stock valued at $1,426,398,000 after buying an additional 213,724 shares in the last quarter. Institutional investors and hedge funds own 33.97% of the company’s stock.

Shares of GOOG traded up $1.61 during midday trading on Friday, reaching $1,235.86. 111,664 shares of the stock were exchanged, compared to its average volume of 1,138,254. The business’s 50-day moving average price is $1,189.93 and its 200 day moving average price is $1,163.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. Alphabet Inc has a twelve month low of $970.11 and a twelve month high of $1,289.27. The company has a market capitalization of $836.24 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.39 and a beta of 0.98.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $38.94 billion for the quarter, compared to analyst estimates of $38.21 billion. During the same quarter last year, the company posted $11.75 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc will post 51.48 earnings per share for the current fiscal year.

In related news, Director John L. Hennessy sold 75 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $1,200.00, for a total transaction of $90,000.00. Following the transaction, the director now owns 310 shares of the company’s stock, valued at $372,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 150 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $1,225.00, for a total value of $183,750.00. Following the transaction, the director now directly owns 276 shares in the company, valued at approximately $338,100. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,744 shares of company stock worth $4,480,345. Corporate insiders own 12.99% of the company’s stock.

A number of research firms have weighed in on GOOG. Credit Suisse Group raised their price target on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Cowen raised their price target on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wedbush raised their price target on Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Oppenheimer raised their price target on Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $1,378.93.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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