Texas Capital Bank Wealth Management Services Inc Sells 239 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Texas Capital Bank Wealth Management Services Inc lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,153 shares of the information services provider’s stock after selling 239 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Alphabet were worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Schear Investment Advisers LLC increased its stake in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after buying an additional 4,905 shares during the period. Trinity Financial Advisors LLC grew its stake in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. increased its position in shares of Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares during the period. abrdn plc raised its stake in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. boosted its holdings in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.1 %

GOOGL stock opened at $189.82 on Friday. Alphabet Inc. has a one year low of $129.68 and a one year high of $195.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s fifty day moving average is $171.63 and its 200 day moving average is $170.67. The firm has a market cap of $2.32 trillion, a PE ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the firm earned $1.55 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOGL. Roth Mkm lifted their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America boosted their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $206.08.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,623 shares of company stock valued at $34,413,006. 11.55% of the stock is owned by company insiders.

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.