Alphabet Inc. $GOOGL Position Trimmed by Texas Bank & Trust Co

Key Points

• Texas Bank & Trust Co reduced its holdings in Alphabet Inc. by 4.4%, now owning 33,804 shares worth approximately $5.2 million, making it their 5th largest holding.
• During Q1, several institutional investors increased their stakes in Alphabet, with Nuveen LLC investing approximately $4.32 billion and GAMMA Investing LLC growing its stake by 16,993.2%.
• Alphabet recently declared a $0.21 quarterly dividend, set to be paid on September 15th, with an annualized yield of 0.4% and a payout ratio of 8.95%.

Texas Bank & Trust Co lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,804 shares of the information services provider's stock after selling 1,548 shares during the quarter. Alphabet makes up 2.2% of Texas Bank & Trust Co's investment portfolio, making the stock its 5th largest holding. Texas Bank & Trust Co's holdings in Alphabet were worth $5,227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $4,317,606,000. GAMMA Investing LLC grew its stake in shares of Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Alphabet by 307.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after buying an additional 7,774,811 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $1,375,509,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

GOOGL opened at $212.91 on Friday. The stock has a market cap of $2.57 trillion, a PE ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $214.65. The stock's 50 day simple moving average is $190.44 and its 200-day simple moving average is $174.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Truist Financial reissued a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. JMP Securities upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Loop Capital reaffirmed a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research report on Friday, June 27th. Finally, Stifel Nicolaus upped their target price on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Four equities research 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. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction 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 sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction 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 $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,710 shares of company stock valued at $47,225,230. 11.64% of the stock is currently owned by insiders.

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.

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