US Bancorp DE Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• US Bancorp DE reduced its holdings in Alphabet Inc. by 0.1%, owning approximately 6,117,158 shares after selling 7,226 shares in the first quarter, making it the 13th largest position in their portfolio.
• Alphabet's most recent earnings report showed an EPS of $2.31, exceeding expectations, with revenue reaching $96.43 billion for the quarter.
• The company announced a quarterly dividend of $0.21 per share, payable on September 15th, representing a yield of 0.4%.

US Bancorp DE lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,117,158 shares of the information services provider's stock after selling 7,226 shares during the period. Alphabet comprises 6.0% of US Bancorp DE's portfolio, making the stock its 13th largest position. US Bancorp DE owned 0.05% of Alphabet worth $945,960,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its holdings in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the last quarter. Northern Trust Corp lifted its holdings in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Capital Research Global Investors lifted its holdings in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after buying an additional 9,042,271 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 2.5%

NASDAQ GOOGL opened at $201.42 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock's 50 day moving average is $180.89 and its two-hundred day moving average is $173.15. The company has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,219 shares of company stock valued at $49,474,273. 11.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays increased their price target on Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. UBS Group raised their target price on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. KeyCorp raised their target price on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Citigroup raised their target price on Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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