Texas Yale Capital Corp. Decreases Stock Holdings in Alphabet Inc. $GOOG

Texas Yale Capital Corp. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,524 shares of the information services provider’s stock after selling 344 shares during the period. Texas Yale Capital Corp.’s holdings in Alphabet were worth $12,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFS Advisors LLC increased its stake in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% in the second 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 period. WestEnd Advisors LLC increased its position in Alphabet by 58.7% during 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 during the last quarter. Fairman Group LLC increased its position in Alphabet by 121.3% during 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 during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the first quarter worth about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG opened at $279.70 on Friday. The stock’s 50-day moving average price is $251.81 and its 200 day moving average price is $205.14. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The firm has a market cap of $3.38 trillion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company 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 36.08%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Analysts Set New Price Targets

GOOG has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Oppenheimer increased their price objective on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Robert W. Baird raised their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Bank of America upped their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 222,396 shares of company stock worth $54,105,275 over the last 90 days. 12.99% of the stock is currently owned by corporate 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.