Texas Capital Bancshares Inc TX Acquires New Stake in Alphabet Inc. (NASDAQ:GOOG)

Texas Capital Bancshares Inc TX bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,667 shares of the information services provider’s stock, valued at approximately $306,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gilbert & Cook Inc. grew its stake in Alphabet by 15.5% in the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after buying an additional 3,924 shares in the last quarter. Concentrum Wealth Management raised its stake in shares of Alphabet by 25.0% during the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after acquiring an additional 3,283 shares during the last quarter. Aveo Capital Partners LLC lifted its holdings in Alphabet by 2.4% in the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after buying an additional 154 shares during the period. Warwick Investment Management Inc. purchased a new stake in Alphabet in the fourth quarter worth $209,000. Finally, Clear Rock Advisors LLC purchased a new stake in shares of Alphabet in the 4th quarter worth about $236,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.9 %

NASDAQ GOOG opened at $165.29 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $164.34 and its 200 day moving average is $167.77. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a market cap of $2.04 trillion, a PE ratio of 25.35, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the company earned $1.44 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GOOG shares. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.29.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now owns 27,824 shares in the company, valued at $4,590,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 203,367 shares of company stock worth $34,079,756 in the last quarter. 12.99% of the stock is owned by company insiders.

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.