North Dallas Bank & Trust Co. Buys New Position in Alphabet Inc. $GOOG

North Dallas Bank & Trust Co. purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,964 shares of the information services provider’s stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. IFS Advisors LLC increased its stake in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its holdings in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Fairman Group LLC boosted its holdings in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Finally, University of Illinois Foundation acquired a new position in Alphabet during the second quarter worth $31,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $330.00 target price on shares of Alphabet in a report on Thursday, October 30th. Wolfe Research boosted their price objective on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $340.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a research report on Monday, November 24th. Finally, Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $313.04.

Alphabet Price Performance

Alphabet stock opened at $310.52 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $3.75 trillion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 1.80 and a beta of 1.07. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67. The business has a 50 day simple moving average of $283.75 and a 200 day simple moving average of $230.73.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the completion of the sale, the chief executive officer directly owned 2,272,119 shares of the company’s stock, valued at $725,942,020.50. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the completion of the transaction, the chief accounting officer directly owned 11,740 shares in the company, valued at approximately $3,721,580. This trade represents a 7.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 225,528 shares of company stock valued at $61,296,884. 12.99% 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.