Enterprise Bank & Trust Co raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,666 shares of the information services provider’s stock after buying an additional 2,166 shares during the quarter. Alphabet makes up approximately 2.1% of Enterprise Bank & Trust Co’s holdings, making the stock its 10th largest holding. Enterprise Bank & Trust Co’s holdings in Alphabet were worth $5,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Bornite Capital Management LP acquired a new position in Alphabet in the first quarter valued at $16,688,000. Markel Corp raised its holdings in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank lifted its stake in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management increased its position in Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.
Insider Buying and Selling at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of Alphabet stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $121.42, for a total transaction of $46,139.60. Following the completion of the sale, the director now directly owns 4,700 shares of the company’s stock, valued at approximately $570,674. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,497 shares of company stock worth $12,785,260. 0.88% of the stock is owned by company insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Susquehanna reaffirmed a “positive” rating and set a $150.00 price target on shares of Alphabet in a research report on Thursday, August 31st. KeyCorp lifted their target price on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. Stifel Nicolaus increased their price target on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, July 21st. JMP Securities restated a “market outperform” rating and set a $138.00 price objective on shares of Alphabet in a research note on Wednesday, August 30th. Finally, Truist Financial increased their target price on Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.89.
Alphabet Company 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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