Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,059 shares of the information services provider’s stock after acquiring an additional 608 shares during the period. Alphabet accounts for 2.2% of Community Bank & Trust Waco Texas’ investment portfolio, making the stock its 11th biggest holding. Community Bank & Trust Waco Texas’ holdings in Alphabet were worth $8,936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% in the 2nd 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 last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at $36,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on 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 owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock valued at $30,139,931 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. Roth Mkm reissued a “buy” rating and set a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. Truist Financial restated a “buy” rating and set a $196.00 price target on shares of Alphabet in a report on Monday. Royal Bank of Canada upped their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley decreased their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Loop Capital restated a “hold” rating and set a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.08.

Alphabet Stock Performance

NASDAQ GOOGL opened at $159.32 on Wednesday. The firm has a market cap of $1.97 trillion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.13 and a beta of 1.04. The company has a 50 day moving average of $166.25 and a 200-day moving average of $165.17. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted 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 company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the business posted $1.44 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

About Alphabet

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.