US Bancorp DE lessened its holdings in Alphabet Inc (NASDAQ:GOOGL) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,312 shares of the information services provider’s stock after selling 1,205 shares during the quarter. Alphabet makes up about 0.8% of US Bancorp DE’s holdings, making the stock its 28th largest position. US Bancorp DE’s holdings in Alphabet were worth $273,205,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Litman Gregory Asset Management LLC acquired a new position in Alphabet in the second quarter valued at $37,000. Belvedere Advisors LLC acquired a new stake in shares of Alphabet during the first quarter worth about $38,000. Thor Advisors LLC acquired a new stake in shares of Alphabet during the first quarter worth about $45,000. Lipe & Dalton acquired a new stake in shares of Alphabet during the second quarter worth about $49,000. Finally, Johnson Financial Group Inc. boosted its stake in shares of Alphabet by 26.3% during the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after buying an additional 10 shares during the period. 33.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GOOGL traded up $0.25 during mid-day trading on Friday, reaching $1,235.22. 394,618 shares of the company’s stock were exchanged, compared to its average volume of 1,133,439. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $1,191.17 and a two-hundred day simple moving average of $1,166.46. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,296.97. The company has a market cap of $836.03 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion. As a group, equities research analysts predict that Alphabet Inc will post 51.29 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. Macquarie set a $1,300.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. Morgan Stanley increased their target price on shares of Alphabet from $1,400.00 to $1,450.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their target price on shares of Alphabet from $1,450.00 to $1,500.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,189.00 target price for the company in a research note on Monday, July 8th. Finally, Moffett Nathanson decreased their target price on shares of Alphabet from $1,290.00 to $1,250.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Eight research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1,373.76.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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