Texas Bank & Trust Co Cuts Stock Holdings in Alphabet Inc. $GOOG

Texas Bank & Trust Co reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,542 shares of the information services provider’s stock after selling 822 shares during the period. Alphabet accounts for about 1.5% of Texas Bank & Trust Co’s portfolio, making the stock its 14th largest holding. Texas Bank & Trust Co’s holdings in Alphabet were worth $3,821,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. IFS Advisors LLC increased its stake in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley increased its stake in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its stake in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares in the last quarter. Fairman Group LLC boosted its holdings in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.8%

GOOG opened at $284.12 on Tuesday. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93. The stock has a market capitalization of $3.44 trillion, a PE ratio of 28.02, a P/E/G ratio of 1.86 and a beta of 1.00. The business’s 50 day moving average price is $246.09 and its 200 day moving average price is $202.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 222,442 shares of company stock valued at $51,200,307. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $340.00 target price on shares of Alphabet in a report on Thursday. Cowen restated a “buy” rating on shares of Alphabet in a report on Thursday. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Sanford C. Bernstein boosted their target price on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Wolfe Research boosted their target price on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

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.