US Bancorp DE cut its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 0.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 131,847 shares of the information services provider’s stock after selling 784 shares during the quarter. US Bancorp DE’s holdings in Alphabet were worth $142,515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Lunia Capital LP grew its stake in shares of Alphabet by 135,522.5% during the 4th 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 during the period. Investec Asset Management LTD grew its stake in shares of Alphabet by 2,660.9% during the 2nd 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 during the period. PenderFund Capital Management Ltd. grew its stake in shares of Alphabet by 127,265.7% during the 2nd 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 during the period. Nordea Investment Management AB grew its stake in shares of Alphabet by 129.3% during the 4th 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 during the period. Finally, Polen Capital Management LLC grew its stake in shares of Alphabet by 19.3% during the 2nd 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 during the period. 33.97% of the stock is owned by institutional investors.

Alphabet stock traded up $1.61 during trading on Friday, reaching $1,235.86. 111,664 shares of the company’s stock were exchanged, compared to its average volume of 1,138,254. The company’s 50-day moving average is $1,189.93 and its two-hundred day moving average is $1,163.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,289.27. The firm has a market cap 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 announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $38.94 billion during the quarter, compared to analysts’ expectations of $38.21 billion. During the same period in the prior year, the company earned $11.75 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. Analysts anticipate that Alphabet Inc will post 51.48 EPS for the current year.

GOOG has been the subject of several research reports. BidaskClub cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Credit Suisse Group boosted their price objective on shares of Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Oppenheimer boosted their price objective on shares of Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,378.93.

In other Alphabet news, VP Amie Thuener O’toole sold 69 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $1,100.52, for a total value of $75,935.88. Following the completion of the transaction, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $427,001.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP David C. Drummond sold 1,600 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total transaction of $1,944,624.00. Following the completion of the transaction, the senior vice president now directly owns 44,482 shares of the company’s stock, valued at $54,062,977.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,744 shares of company stock valued at $4,480,345. 12.99% of the stock is owned by corporate insiders.

Alphabet Profile

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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