Alphabet Inc. $GOOG Shares Sold by US Bancorp DE

US Bancorp DE trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,976,777 shares of the information services provider’s stock after selling 52,134 shares during the period. US Bancorp DE’s holdings in Alphabet were worth $350,661,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Armstrong Fleming & Moore Inc lifted its holdings in shares of Alphabet by 119.0% during the second quarter. Armstrong Fleming & Moore Inc now owns 4,400 shares of the information services provider’s stock valued at $781,000 after purchasing an additional 2,391 shares during the last quarter. Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of Alphabet by 3.6% during the second quarter. Allegiance Financial Group Advisory Services LLC now owns 1,826 shares of the information services provider’s stock valued at $324,000 after purchasing an additional 64 shares during the last quarter. InTrack Investment Management Inc lifted its holdings in shares of Alphabet by 29.5% during the second quarter. InTrack Investment Management Inc now owns 11,718 shares of the information services provider’s stock valued at $2,079,000 after purchasing an additional 2,671 shares during the last quarter. Values Added Financial LLC lifted its holdings in shares of Alphabet by 15.4% during the second quarter. Values Added Financial LLC now owns 11,585 shares of the information services provider’s stock valued at $2,055,000 after purchasing an additional 1,545 shares during the last quarter. Finally, Morey & Quinn Wealth Partners LLC lifted its holdings in shares of Alphabet by 2.3% during the second quarter. Morey & Quinn Wealth Partners LLC now owns 3,990 shares of the information services provider’s stock valued at $708,000 after purchasing an additional 90 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $237.49 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $2.87 trillion, a P/E ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00. The stock’s 50-day moving average is $226.97 and its two-hundred day moving average is $189.81. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is presently 8.95%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOOG shares. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a research report on Wednesday. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $241.00.

About Alphabet

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.