Enterprise Bank & Trust Co Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Enterprise Bank & Trust Co raised its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,277 shares of the information services provider’s stock after purchasing an additional 67 shares during the period. Alphabet makes up approximately 1.0% of Enterprise Bank & Trust Co’s investment portfolio, making the stock its 28th biggest position. Enterprise Bank & Trust Co’s holdings in Alphabet were worth $2,909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new position in Alphabet in the 3rd quarter valued at about $25,000. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter valued at about $33,000. HWG Holdings LP purchased a new position in Alphabet in the 2nd quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its position in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,053 shares of company stock worth $27,559,701 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $192.29 on Tuesday. The firm’s 50 day moving average is $184.55 and its two-hundred day moving average is $174.49. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $202.88. The firm has a market capitalization of $2.35 trillion, a P/E ratio of 25.50, a PEG ratio of 1.34 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the business earned $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s payout ratio is currently 10.61%.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Finally, UBS Group increased their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $200.56.

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.