US Bancorp DE Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

US Bancorp DE increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,088,095 shares of the information services provider's stock after purchasing an additional 11,630 shares during the period. Alphabet makes up 1.3% of US Bancorp DE's portfolio, making the stock its 13th biggest position. US Bancorp DE's holdings in Alphabet were worth $1,009,712,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $41,000. Quarry LP acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $53,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after acquiring an additional 109 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOOGL. Rosenblatt Securities reissued a "neutral" rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Phillip Securities raised Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Bank of America upped their target price on Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $205.90.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now owns 29,324 shares in the company, valued at $4,838,460. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,752 shares of company stock worth $40,156,829. Corporate insiders own 11.55% of the company's stock.

Alphabet Trading Down 1.5 %

NASDAQ GOOGL traded down $2.74 during trading hours on Wednesday, hitting $178.88. 23,170,800 shares of the company's stock were exchanged, compared to its average volume of 27,102,947. The stock has a 50-day simple moving average of $164.37 and a 200 day simple moving average of $169.98. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The firm has a market cap of $2.19 trillion, a price-to-earnings ratio of 23.79, a PEG ratio of 1.29 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. During the same quarter last year, the firm posted $1.55 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet's payout ratio is currently 10.61%.

Alphabet Company 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.