Texas Bank & Trust Co Has $6.21 Million Holdings in Alphabet Inc. $GOOGL

Texas Bank & Trust Co lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 35,252 shares of the information services provider’s stock after purchasing an additional 1,448 shares during the period. Alphabet comprises 2.5% of Texas Bank & Trust Co’s portfolio, making the stock its 5th largest holding. Texas Bank & Trust Co’s holdings in Alphabet were worth $6,212,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GOOGL. Brighton Jones LLC raised its stake 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 worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Smart Money Group LLC increased its holdings in shares of Alphabet by 9.4% in the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after purchasing an additional 532 shares in the last quarter. Cornerstone Investment Partners LLC raised its position in Alphabet by 1.8% in the 1st quarter. Cornerstone Investment Partners LLC now owns 579,842 shares of the information services provider’s stock worth $89,667,000 after purchasing an additional 10,009 shares during the last quarter. Finally, Arcus Capital Partners LLC lifted its holdings in Alphabet by 1.4% during the 1st quarter. Arcus Capital Partners LLC now owns 7,392 shares of the information services provider’s stock worth $1,143,000 after buying an additional 100 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 221,796 shares of company stock valued at $53,983,001 in the last quarter. Company insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $276.41 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.34 trillion, a P/E ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.05. The business has a 50-day moving average of $257.24 and a 200-day moving average of $208.59. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $292.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Analysts Set New Price Targets

Several research firms have recently commented on GOOGL. Truist Financial lifted their target price on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. Wedbush reissued an “outperform” rating and set a $320.00 price objective (up from $245.00) on shares of Alphabet in a report on Thursday, October 30th. Cantor Fitzgerald upped their target price on shares of Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, New Street Research lifted their price target on shares of Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $304.10.

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.