US Bancorp DE decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,337 shares of the information services provider’s stock after selling 605 shares during the period. US Bancorp DE’s holdings in Alphabet were worth $127,529,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter valued at about $2,128,163,000. Appaloosa LP raised its stake in shares of Alphabet by 2.3% in the fourth quarter. Appaloosa LP now owns 483,000 shares of the information services provider’s stock valued at $372,789,000 after buying an additional 11,000 shares during the period. Putnam Investments LLC raised its stake in shares of Alphabet by 50.3% in the fourth quarter. Putnam Investments LLC now owns 1,094,771 shares of the information services provider’s stock valued at $844,967,000 after buying an additional 366,456 shares during the period. Sandler Capital Management raised its stake in shares of Alphabet by 39.2% in the fourth quarter. Sandler Capital Management now owns 17,120 shares of the information services provider’s stock valued at $13,214,000 after buying an additional 4,820 shares during the period. Finally, Jarislowsky Fraser Ltd raised its stake in shares of Alphabet by 11.6% in the fourth quarter. Jarislowsky Fraser Ltd now owns 105,966 shares of the information services provider’s stock valued at $81,786,000 after buying an additional 11,016 shares during the period. 34.57% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ:GOOG) traded down 0.89% during trading on Thursday, reaching $918.70. The company had a trading volume of 400,775 shares. The stock has a 50 day moving average of $934.56 and a 200-day moving average of $891.60. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $988.25. The stock has a market capitalization of $636.55 billion, a P/E ratio of 33.29 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same period in the previous year, the company earned $8.42 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
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Several brokerages have issued reports on GOOG. UBS AG reaffirmed a “buy” rating and set a $1,080.00 price target on shares of Alphabet in a research note on Tuesday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,100.00 price target (up previously from $1,050.00) on shares of Alphabet in a research note on Tuesday, July 25th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Finally, JMP Securities reaffirmed an “outperform” rating and set a $1,077.00 price target on shares of Alphabet in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,030.56.
In other news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $926.79, for a total transaction of $3,707,160.00. Following the completion of the sale, the chief executive officer now directly owns 1,389 shares in the company, valued at $1,287,311.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $968.95, for a total transaction of $177,317.85. The disclosure for this sale can be found here. Insiders sold 47,169 shares of company stock worth $44,206,482 over the last ninety days. Corporate insiders own 13.92% of the company’s stock.
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.
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