First Dallas Securities Inc. Grows Holdings in Alphabet Inc. $GOOG

Key Points

• First Dallas Securities Inc. increased its holdings in Alphabet Inc. by 38.7% in the first quarter, bringing their total shares to 7,440 with a valuation of approximately $1.16 million.
• Institutional investors have also increased their stakes in Alphabet, with Vanguard Group and JPMorgan Chase raising their holdings significantly in recent quarters.
• Alphabet announced a quarterly dividend of $0.21 per share, reflecting an annual yield of 0.4%, with the dividend payment scheduled for September 15th.

First Dallas Securities Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 38.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,440 shares of the information services provider's stock after purchasing an additional 2,075 shares during the period. First Dallas Securities Inc.'s holdings in Alphabet were worth $1,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Principia Wealth Advisory LLC raised its holdings in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the first quarter worth $26,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the first quarter worth $32,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the first quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet during the first quarter valued at $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded down $0.38 during midday trading on Wednesday, hitting $239.56. The company's stock had a trading volume of 19,472,388 shares, compared to its average volume of 23,984,404. The business's 50 day simple moving average is $199.04 and its 200 day simple moving average is $177.55. 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 has a market cap of $2.90 trillion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $242.08.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 period last year, the firm posted $1.89 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was 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 the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,710 shares of company stock valued at $49,208,380. Corporate insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.56.

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.