US Bancorp DE cut its stake in Alphabet Inc (NASDAQ:GOOG) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,491 shares of the information services provider’s stock after selling 155 shares during the quarter. US Bancorp DE’s holdings in Alphabet were worth $145,965,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GOOG. Vanguard Group Inc. grew its holdings in shares of Alphabet by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after purchasing an additional 589,654 shares during the period. BlackRock Inc. grew its holdings in shares of Alphabet by 4.8% during the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after purchasing an additional 826,480 shares during the period. FMR LLC grew its holdings in shares of Alphabet by 0.4% during the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after purchasing an additional 62,507 shares during the period. Capital World Investors grew its holdings in shares of Alphabet by 13.9% during the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after purchasing an additional 776,853 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of Alphabet by 3.2% during the 2nd quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after purchasing an additional 155,151 shares during the period. 34.85% of the stock is owned by institutional investors and hedge funds.
Shares of GOOG opened at $1,007.04 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. The stock has a market capitalization of $699,674.25, a PE ratio of 31.46 and a beta of 1.08. Alphabet Inc has a 1 year low of $817.02 and a 1 year high of $1,186.89.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.07 by ($0.37). The company had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.36 EPS.
Alphabet announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, Director Ann Mather sold 37 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $1,107.87, for a total transaction of $40,991.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $1,127.17, for a total value of $4,508,680.00. Following the sale, the chief executive officer now directly owns 656 shares in the company, valued at approximately $739,423.52. The disclosure for this sale can be found here. Insiders have sold a total of 48,720 shares of company stock worth $52,755,337 in the last three months. Corporate insiders own 13.92% of the company’s stock.
A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. TheStreet cut Alphabet from an “a” rating to a “c+” rating in a report on Thursday, February 1st. Vetr cut Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price target for the company. in a report on Wednesday, January 10th. Deutsche Bank reiterated a “buy” rating on shares of Alphabet in a report on Monday, January 29th. Finally, Stifel Nicolaus cut Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target for the company. in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $1,089.34.
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Alphabet Company Profile
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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