Community Bank & Trust Waco Texas Sells 160 Shares of Alphabet Inc. $GOOG

Community Bank & Trust Waco Texas lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,200 shares of the information services provider’s stock after selling 160 shares during the period. Community Bank & Trust Waco Texas’ holdings in Alphabet were worth $3,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $32,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the first quarter worth about $32,000. Finally, Graybill Wealth Management LTD. bought a new position in Alphabet during the first quarter worth about $44,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Oppenheimer reissued an “outperform” rating and issued a $235.00 target price (up from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Rosenblatt Securities raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

Alphabet Stock Up 0.5%

Shares of NASDAQ GOOG opened at $204.91 on Monday. The company has a market capitalization of $2.48 trillion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. 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 company’s 50 day moving average price is $185.21 and its 200-day moving average price is $174.52.

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

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,819 shares of company stock worth $49,796,547. Company insiders own 12.99% of the company’s stock.

Alphabet 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.