US Bancorp DE Trims Stake in Alphabet Inc. (NASDAQ:GOOG)


Share on StockTwits

US Bancorp DE lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,349 shares of the information services provider’s stock after selling 1,223 shares during the quarter. US Bancorp DE’s holdings in Alphabet were worth $244,820,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter valued at $2,118,088,000. Cibc World Markets Corp raised its holdings in shares of Alphabet by 537.3% in the 4th quarter. Cibc World Markets Corp now owns 725,784 shares of the information services provider’s stock valued at $1,271,486,000 after buying an additional 611,904 shares during the period. Egerton Capital UK LLP raised its holdings in shares of Alphabet by 85.6% in the 4th quarter. Egerton Capital UK LLP now owns 675,668 shares of the information services provider’s stock valued at $1,183,689,000 after buying an additional 311,706 shares during the period. Clarus Group Inc. raised its holdings in shares of Alphabet by 57,108.2% in the 1st quarter. Clarus Group Inc. now owns 250,000 shares of the information services provider’s stock valued at $1,122,000 after buying an additional 249,563 shares during the period. Finally, Sanders Capital LLC raised its holdings in shares of Alphabet by 11.6% in the 4th quarter. Sanders Capital LLC now owns 1,526,442 shares of the information services provider’s stock valued at $2,866,248,000 after buying an additional 158,383 shares during the period. Institutional investors own 31.94% of the company’s stock.

Several research analysts recently commented on GOOG shares. Oppenheimer boosted their target price on Alphabet from $2,350.00 to $2,510.00 and gave the stock an “outperform” rating in a research note on Monday. Credit Suisse Group boosted their target price on Alphabet from $2,500.00 to $2,755.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wedbush started coverage on Alphabet in a research note on Wednesday, April 14th. They set an “outperform” rating and a $2,953.00 target price for the company. Mizuho boosted their target price on Alphabet from $2,350.00 to $2,600.00 and gave the stock a “buy” rating in a research note on Monday, April 19th. Finally, Piper Sandler boosted their target price on Alphabet from $2,250.00 to $2,635.00 and gave the stock an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $2,495.63.

In other news, CEO Sundar Pichai sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $2,068.50, for a total transaction of $6,205,500.00. Following the completion of the transaction, the chief executive officer now directly owns 6,757 shares of the company’s stock, valued at approximately $13,976,854.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John Kent Walker sold 2,570 shares of the stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $2,037.34, for a total value of $5,235,963.80. Following the transaction, the senior vice president now directly owns 26,707 shares of the company’s stock, valued at $54,411,239.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,131 shares of company stock valued at $43,393,845. 12.99% of the stock is owned by company insiders.

Shares of NASDAQ GOOG traded down $51.10 during trading hours on Tuesday, reaching $2,344.07. The stock had a trading volume of 20,202 shares, compared to its average volume of 1,562,912. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 46.28, a PEG ratio of 1.66 and a beta of 0.98. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $1,299.00 and a fifty-two week high of $2,452.38. The firm has a 50-day moving average of $2,201.27 and a 200-day moving average of $1,928.06.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, April 26th. The information services provider reported $26.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $15.74 by $10.55. The firm had revenue of $55.30 billion during the quarter, compared to the consensus estimate of $51.40 billion. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The firm’s revenue was up 34.4% compared to the same quarter last year. During the same period in the prior year, the business earned $9.87 EPS. On average, equities analysts predict that Alphabet Inc. will post 52.19 EPS for the current year.

Alphabet Company Profile

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

Further Reading: Do You Need a Fiduciary?

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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.