Alphabet Inc. (NASDAQ:GOOGL) is Enterprise Bank & Trust Co’s 10th Largest Position

Enterprise Bank & Trust Co lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the first quarter, HoldingsChannel reports. The fund owned 44,395 shares of the information services provider’s stock after selling 1,834 shares during the quarter. Alphabet accounts for about 2.3% of Enterprise Bank & Trust Co’s portfolio, making the stock its 10th largest position. Enterprise Bank & Trust Co’s holdings in Alphabet were worth $6,701,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet in the fourth quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $38,000. Meritage Group LP raised its position in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the last quarter. Armor Investment Advisors LLC raised its position in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the last quarter. Finally, IAG Wealth Partners LLC raised its position in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 1.6 %

NASDAQ:GOOGL traded up $2.80 during midday trading on Friday, hitting $179.10. 12,383,743 shares of the company were exchanged, compared to its average volume of 28,654,596. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $180.41. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.21 trillion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. The company has a fifty day simple moving average of $169.61 and a 200 day simple moving average of $152.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the firm posted $1.17 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOGL. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Wedbush upped their price target on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Truist Financial upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. BMO Capital Markets restated an “outperform” rating and set a $215.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Argus upped their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $193.26.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 12,084 shares of Alphabet stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the transaction, the insider now owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Insiders sold 135,958 shares of company stock worth $22,383,553 over the last 90 days. Company insiders own 11.55% of the company’s stock.

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.