Texas Bank & Trust Co Makes New $4.41 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

Texas Bank & Trust Co purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,142 shares of the information services provider’s stock, valued at approximately $4,407,000. Alphabet comprises 1.8% of Texas Bank & Trust Co’s holdings, making the stock its 8th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Tolleson Wealth Management Inc. acquired a new position in Alphabet in the 4th quarter worth approximately $460,000. Trace Wealth Advisors LLC acquired a new position in Alphabet in the 4th quarter worth approximately $1,356,000. Triavera Capital LLC acquired a new position in Alphabet in the 4th quarter worth approximately $54,000. True Wealth Design LLC boosted its stake in Alphabet by 28.5% in the 4th quarter. True Wealth Design LLC now owns 293 shares of the information services provider’s stock worth $56,000 after purchasing an additional 65 shares during the period. Finally, State of Wyoming boosted its stake in Alphabet by 86.3% in the 4th quarter. State of Wyoming now owns 31,951 shares of the information services provider’s stock worth $6,085,000 after purchasing an additional 14,800 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,324 shares of company stock worth $30,153,353 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 1.2%

GOOG stock opened at $167.43 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a fifty day simple moving average of $160.19 and a 200 day simple moving average of $176.75. The firm has a market cap of $2.03 trillion, a PE ratio of 20.80, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GOOG shares. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Scotiabank decreased their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. UBS Group decreased their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.94.

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.