Enterprise Bank & Trust Co Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Enterprise Bank & Trust Co increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 27.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,288 shares of the information services provider’s stock after purchasing an additional 3,709 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Alphabet were worth $2,091,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Corrado Advisors LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC grew its position in Alphabet by 142.9% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Milestone Wealth LLC increased its stake in Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after purchasing an additional 361 shares during the period. Bbjs Financial Advisors LLC bought a new stake in shares of Alphabet during the fourth quarter worth $48,000. Finally, GW&K Investment Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at $50,000. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $138.30 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.74 trillion, a PE ratio of 29.30, a P/E/G ratio of 1.58 and a beta of 1.06. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $139.55. The stock has a fifty day moving average price of $129.86 and a 200-day moving average price of $117.78.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the transaction, the director now owns 7,584 shares of the company’s stock, valued at $1,041,283.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the transaction, the director now directly owns 7,584 shares of the company’s stock, valued at $1,041,283.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,497 shares of company stock valued at $12,785,260. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GOOG. Robert W. Baird boosted their price objective on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Wedbush initiated coverage on Alphabet in a report on Monday, August 21st. They issued an “outperform” rating for the company. Susquehanna lifted their target price on Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Finally, Oppenheimer increased their price target on Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $130.94.

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.