Texas Capital Bank Wealth Management Services Inc Has $2.07 Million Stake in Alphabet Inc. $GOOG

Key Points

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Texas Capital Bank Wealth Management Services Inc grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 38.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,273 shares of the information services provider's stock after purchasing an additional 3,665 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in Alphabet were worth $2,074,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC grew its position in Alphabet by 111.8% in the 1st 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 acquired a new stake in Alphabet in the 1st quarter worth $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet in the 1st quarter worth $32,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter worth about $32,000. Finally, Ball & Co Wealth Management Inc. bought a new position in shares of Alphabet during the 4th quarter worth about $53,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on 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 completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 274,819 shares of company stock valued at $49,796,547. Insiders own 12.99% of the company's stock.

Alphabet Trading Down 0.3%

Shares of NASDAQ GOOG opened at $204.29 on Tuesday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a market cap of $2.47 trillion, a PE ratio of 21.76, a P/E/G ratio of 1.38 and a beta of 1.02. 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 company has a 50-day moving average of $185.74 and a two-hundred day moving average of $174.51.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The company's revenue was up 13.8% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GOOG shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Cowen reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Finally, Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.

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.

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