Texas Capital Bank Wealth Management Services Inc grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 11.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,392 shares of the information services provider’s stock after purchasing an additional 1,203 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Alphabet were worth $2,075,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter valued at $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the 2nd quarter worth about $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the 2nd quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock valued at $35,922,911 over the last ninety days. 11.55% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Get Our Latest Analysis on GOOGL
Alphabet Stock Up 0.9 %
GOOGL stock opened at $164.38 on Wednesday. The business’s 50-day moving average price is $161.93 and its 200-day moving average price is $167.52. The stock has a market cap of $2.03 trillion, a P/E ratio of 25.21, a PEG ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the firm earned $1.44 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is presently 12.27%.
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.
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