First Financial Bankshares Inc Has $92.89 Million Position in Alphabet Inc. $GOOGL

First Financial Bankshares Inc boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 46.8% during the first quarter, Holdings Channel reports. The institutional investor owned 600,659 shares of the information services provider’s stock after acquiring an additional 191,530 shares during the quarter. Alphabet comprises about 2.0% of First Financial Bankshares Inc’s investment portfolio, making the stock its 13th biggest position. First Financial Bankshares Inc’s holdings in Alphabet were worth $92,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Capital Management LLC raised its holdings in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after buying an additional 371 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Legacy Investment Solutions LLC raised its holdings in Alphabet by 13.7% during the 4th quarter. Legacy Investment Solutions LLC now owns 980 shares of the information services provider’s stock worth $182,000 after purchasing an additional 118 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on GOOGL. Rosenblatt Securities boosted their price objective on Alphabet from $189.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. DA Davidson boosted their price objective on Alphabet from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Royal Bank Of Canada boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Bank of America boosted their price objective on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Westpark Capital boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.53.

Alphabet Price Performance

Shares of GOOGL opened at $212.91 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day simple moving average of $190.44 and a 200 day simple moving average of $173.96. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $214.65. The firm has a market capitalization of $2.57 trillion, a PE ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,710 shares of company stock worth $47,225,230. 11.55% of the stock is currently owned by insiders.

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.