Texas Bank & Trust Co Takes $6.69 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Texas Bank & Trust Co purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 35,352 shares of the information services provider's stock, valued at approximately $6,692,000. Alphabet makes up about 2.8% of Texas Bank & Trust Co's portfolio, making the stock its 5th largest position.

A number of other large investors have also recently modified their holdings of the company. Trace Wealth Advisors LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $1,654,000. Triavera Capital LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $12,871,000. State of Wyoming lifted its position in Alphabet by 89.4% during the fourth quarter. State of Wyoming now owns 34,589 shares of the information services provider's stock valued at $6,548,000 after acquiring an additional 16,323 shares during the last quarter. Stonebrook Private Inc. boosted its stake in Alphabet by 3.6% in the fourth quarter. Stonebrook Private Inc. now owns 18,329 shares of the information services provider's stock valued at $3,470,000 after acquiring an additional 634 shares in the last quarter. Finally, Strategic Global Advisors LLC boosted its stake in Alphabet by 4.2% in the fourth quarter. Strategic Global Advisors LLC now owns 136,987 shares of the information services provider's stock valued at $25,932,000 after acquiring an additional 5,546 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Stifel Nicolaus reduced their price target on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Truist Financial dropped their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Tuesday, May 6th. DZ Bank downgraded Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target for the company. in a report on Thursday, February 6th. Finally, DA Davidson dropped their price target on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares in the company, valued at $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the sale, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at $413,555,306.40. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,744 shares of company stock worth $20,968,366 in the last ninety days. Company insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Alphabet stock traded down $2.56 during mid-day trading on Tuesday, hitting $163.98. The company had a trading volume of 46,504,097 shares, compared to its average volume of 29,183,710. The company has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company's fifty day moving average is $158.20 and its 200-day moving average is $175.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the business posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

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.