Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 655,242 shares of the information services provider’s stock after acquiring an additional 10,173 shares during the period. Alphabet makes up about 1.7% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 7th biggest position. Cullen Frost Bankers Inc.’s holdings in Alphabet were worth $119,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. MorganRosel Wealth Management LLC grew its holdings in shares of Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 57 shares during the period. Hengehold Capital Management LLC grew its holdings in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Joseph P. Lucia & Associates LLC grew its holdings in shares of Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after purchasing an additional 64 shares during the period. Finally, Sunflower Bank N.A. grew its holdings in shares of Alphabet by 1.0% in the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after purchasing an additional 65 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Guggenheim upped their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. TD Securities upped their price objective on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Piper Sandler decreased their target price on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Finally, Argus upped their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Price Performance

GOOGL stock opened at $163.59 on Friday. The business has a 50 day moving average price of $164.72 and a 200 day moving average price of $165.32. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during 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 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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 was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,167 shares of company stock valued at $29,762,606. 11.55% of the stock is currently owned by insiders.

Alphabet Company 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.