US Bancorp DE has $378.85 million shares position in Alphabet Inc. (NASDAQ:GOOG)

VaselineSeptember 12, 2024

0 4 minutes read

US Bancorp DE decreased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.6% during the second quarter, HoldingsChannel reports. The fund owned 2,065,490 shares of the information services provider’s stock after selling 13,294 shares during the period. US Bancorp DE’s holdings in Alphabet were worth $378,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $34,000. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the second quarter valued at approximately $37,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the second quarter valued at about $44,000. Hoese & Co LLP boosted its stake in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Alphabet in the second quarter valued at about $48,000. Institutional investors and hedge funds own 27.26% of the company’s shares.

Analysts on Wall Street are forecasting an increase

GOOG has been the subject of several analyst reports. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Moderate Buy” and an average target price of $182.86, according to MarketBeat .

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Indoor activity

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Insiders have sold a total of 201,867 shares of company stock worth $34,218,581 over the last 90 days. 12.99% of shares are owned by company insiders.

Alphabet stock up 1.4%

Shares of GOOG stock opened at $152.15 on Thursday. The firm has a market cap of $1.87 trillion, a price-to-earnings ratio of 23.34, a PEG ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio of 2.08. The company’s fifty day moving average price is $170.36 and its two hundred day moving average price is $165.90. Alphabet Inc. it has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG – Get Free Report ) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. In the same period last year, the company earned $1.44 EPS. On average, analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabetical announcement of dividends

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, September 9. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

About Alphabet

(Free Report)

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