Texas Capital Bank Wealth Management Services Inc raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,357 shares of the information services provider's stock after acquiring an additional 2,158 shares during the period. Alphabet comprises about 1.0% of Texas Capital Bank Wealth Management Services Inc's investment portfolio, making the stock its 17th largest holding. Texas Capital Bank Wealth Management Services Inc's holdings in Alphabet were worth $18,711,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of GOOGL. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $30,534,239,000. Cardano Risk Management B.V. raised its holdings in shares of Alphabet by 855.3% during the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider's stock worth $4,546,413,000 after acquiring an additional 13,004,828 shares during the period. Vanguard Group Inc. lifted its position in Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after acquiring an additional 12,531,695 shares in the last quarter. Capital World Investors lifted its position in Alphabet by 28.0% in the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after acquiring an additional 11,605,785 shares in the last quarter. Finally, Diamant Asset Management Inc. boosted its stake in Alphabet by 28,950.0% in the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider's stock worth $2,671,986,000 after purchasing an additional 9,259,940 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Analysts remain constructive on Alphabet’s valuation and growth outlook. Citizens analyst Andrew Boone expects the stock to reach a new record high over the next 12 months, while other commentary highlights strong cloud momentum and argues that market concerns about Alphabet may be excessive. Wall Street analyst sets Google price target One Mag 7 Stock to Watch
- Positive Sentiment: Google- and Meta-backed Jio Platforms received approval for an Indian IPO. The listing could provide Alphabet with a potential valuation catalyst for its investment and increase visibility into the value of the stake. Jio Platforms IPO approval
- Neutral Sentiment: Alphabet is balancing record cloud growth against historically high AI-related capital spending. Investors are focused on whether rising infrastructure costs will generate sufficient future revenue and margins compared with Amazon’s spending strategy. Alphabet and Amazon AI capital spending
- Neutral Sentiment: Director Frances Arnold sold 82 shares for approximately $27,692, reducing her direct holdings by 0.43%. The relatively small transaction is unlikely to materially change the investment case, but it may attract limited attention amid the stock’s recent volatility. Alphabet insider transaction filing
- Negative Sentiment: Fresh scrutiny of Google’s £260 million U.K. app-store settlement added to regulatory pressure. Reports also say Google changed European search rules to avoid a potentially much larger EU revenue penalty, though the concessions could weaken its search economics and competitive position. Google U.K. app-store settlement Google European search rules
- Negative Sentiment: Investors continue to debate whether Meta’s AI products could challenge Google Search and whether Alphabet’s AI investment will pressure returns before producing meaningful new revenue. Concerns about talent departures and the uncertain reception for future Gemini releases are also weighing on sentiment. Meta AI competition with Google Search
Insider Transactions at Alphabet
In other news, Director Frances Arnold sold 82 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $337.71, for a total transaction of $27,692.22. Following the sale, the director owned 18,995 shares in the company, valued at $6,414,801.45. This represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the completion of the sale, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at approximately $9,125,015.20. The trade was a 1.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 451,925 shares of company stock worth $12,371,544 in the last 90 days. Corporate insiders own 11.61% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Freedom Capital upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. DZ Bank upgraded Alphabet to a "strong-buy" rating in a report on Thursday, July 23rd. Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a research report on Monday, May 4th. Loop Capital increased their price objective on Alphabet from $355.00 to $490.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Finally, Truist Financial set a $420.00 target price on Alphabet and gave the company a "buy" rating in a research report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $420.19.
Check Out Our Latest Analysis on GOOGL
Alphabet Trading Down 2.1%
Alphabet stock opened at $339.35 on Tuesday. The company has a market cap of $4.15 trillion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 0.97 and a beta of 1.24. The firm has a 50-day moving average of $349.41 and a 200-day moving average of $342.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a one year low of $206.20 and a one year high of $408.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. On average, equities analysts expect that Alphabet Inc. will post 20.5 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is 4.42%.
About Alphabet
(
Free Report)
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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