Texas Capital Bank Wealth Management Services Inc Purchases 6,508 Shares of Alphabet Inc. $GOOG

Key Points

• Texas Capital Bank Wealth Management Services increased its Alphabet stake by 35.8% in Q4, buying 6,508 more shares and ending with 24,698 shares valued at about $7.75 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 beating estimates by $2.43 and revenue of $109.9 billion topping expectations, while revenue rose 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share and continues to draw mostly bullish analyst coverage, with an average price target of $376 and a consensus “Buy” rating.

Texas Capital Bank Wealth Management Services Inc boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 35.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,698 shares of the information services provider's stock after buying an additional 6,508 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in Alphabet were worth $7,750,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Waystone Advisors LLC acquired a new position in Alphabet during the 4th quarter worth $417,000. MTM Investment Management LLC grew its position in shares of Alphabet by 0.7% in the fourth quarter. MTM Investment Management LLC now owns 6,233 shares of the information services provider's stock valued at $1,956,000 after purchasing an additional 45 shares during the last quarter. Coordinated Financial Services Inc. grew its position in shares of Alphabet by 15.0% in the fourth quarter. Coordinated Financial Services Inc. now owns 1,558 shares of the information services provider's stock valued at $489,000 after purchasing an additional 203 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in shares of Alphabet by 0.6% in the fourth quarter. Fidelis Capital Partners LLC now owns 76,614 shares of the information services provider's stock worth $24,042,000 after purchasing an additional 431 shares during the period. Finally, King Luther Capital Management Corp increased its stake in shares of Alphabet by 1.9% in the fourth quarter. King Luther Capital Management Corp now owns 2,495,977 shares of the information services provider's stock worth $783,237,000 after purchasing an additional 46,386 shares during the period. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders sold 193,016 shares of company stock valued at $17,282,549 over the last 90 days. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Down 1.0%

GOOG stock opened at $365.76 on Friday. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.43 trillion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22. The business's 50-day simple moving average is $350.06 and its 200 day simple moving average is $327.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. During the same quarter in the prior year, the firm posted $2.81 EPS. The company's revenue for the quarter was up 21.8% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio is currently 6.41%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOOG shares. KeyCorp restated an "overweight" rating on shares of Alphabet in a research note on Wednesday, May 20th. Scotiabank reaffirmed an "outperform" rating and issued a $450.00 price target (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Pivotal Research reiterated a "buy" rating and set a $470.00 price target (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. UBS Group reissued a "neutral" rating and issued a $348.00 price objective (up from $345.00) on shares of Alphabet in a research report on Thursday, February 12th. Finally, Truist Financial set a $430.00 price objective on shares of Alphabet in a research note on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $376.00.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet signed a major cloud-computing agreement with SpaceX, with reports putting the deal at about $920 million per month for 32 months, which could provide a meaningful revenue stream and reinforce demand for Google Cloud. Article Title
• Positive Sentiment: Alphabet’s municipal-bond debut drew strong investor demand, suggesting institutions still view the company as a high-quality borrower with flexible financing options. Article Title
• Positive Sentiment: Some investors and analysts said the equity raise is a strategic move to accelerate AI infrastructure and may help Alphabet defend and expand its long-term leadership in search, cloud, and AI. Article Title
• Neutral Sentiment: Alphabet also appeared in commentary about AI-related partnerships, including potential indirect benefits from the SpaceX IPO and other cloud collaborations, but these are mostly longer-term strategic themes rather than immediate catalysts. Article Title
• Negative Sentiment: Wall Street coverage focused heavily on Alphabet’s expanding capital expenditures, with some commentators warning that the AI buildout may be getting too expensive and could pressure free cash flow. Article Title

About Alphabet

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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