Texas Yale Capital Corp. Reduces Position in Alphabet Inc. $GOOG

Texas Yale Capital Corp. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,524 shares of the information services provider’s stock after selling 344 shares during the quarter. Texas Yale Capital Corp.’s holdings in Alphabet were worth $12,156,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Headland Capital LLC grew its stake in shares of Alphabet by 5.2% during the second quarter. Headland Capital LLC now owns 2,732 shares of the information services provider’s stock worth $485,000 after purchasing an additional 136 shares in the last quarter. OneAscent Family Office LLC lifted its holdings in Alphabet by 26.1% during the 2nd quarter. OneAscent Family Office LLC now owns 5,539 shares of the information services provider’s stock worth $983,000 after buying an additional 1,147 shares during the last quarter. Soltis Investment Advisors LLC boosted its position in shares of Alphabet by 4.4% during the 2nd quarter. Soltis Investment Advisors LLC now owns 29,419 shares of the information services provider’s stock worth $5,219,000 after acquiring an additional 1,232 shares in the last quarter. Achmea Investment Management B.V. increased its holdings in shares of Alphabet by 3.9% in the 2nd quarter. Achmea Investment Management B.V. now owns 552,820 shares of the information services provider’s stock valued at $98,065,000 after acquiring an additional 20,945 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Alphabet by 2.8% in the 2nd quarter. Golden State Wealth Management LLC now owns 10,448 shares of the information services provider’s stock valued at $1,853,000 after acquiring an additional 288 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 222,396 shares of company stock worth $54,105,275. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOG shares. Wolfe Research boosted their target price on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Robert W. Baird boosted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Scotiabank set a $336.00 price target on shares of Alphabet and gave the company a “sector outperform” rating in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald set a $310.00 price objective on Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $279.70 on Friday. 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 Inc. has a one year low of $142.66 and a one year high of $291.93. The firm has a market capitalization of $3.38 trillion, a P/E ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05. The company’s fifty day moving average is $251.81 and its two-hundred day moving average is $205.14.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the business posted $2.12 EPS. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

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.