Enterprise Bank & Trust Co Sells 308 Shares of Alphabet Inc. $GOOG

Enterprise Bank & Trust Co decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the second quarter, Holdings Channel reports. The firm owned 14,515 shares of the information services provider’s stock after selling 308 shares during the quarter. Alphabet accounts for about 1.0% of Enterprise Bank & Trust Co’s portfolio, making the stock its 26th biggest position. Enterprise Bank & Trust Co’s holdings in Alphabet were worth $2,575,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Modus Advisors LLC increased its holdings in shares of Alphabet by 0.6% in the 2nd quarter. Modus Advisors LLC now owns 39,927 shares of the information services provider’s stock worth $7,083,000 after purchasing an additional 254 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of Alphabet by 1.0% in the 2nd quarter. Insight Wealth Strategies LLC now owns 11,996 shares of the information services provider’s stock worth $2,122,000 after purchasing an additional 120 shares in the last quarter. Greenfield Savings Bank increased its holdings in shares of Alphabet by 2.1% in the 2nd quarter. Greenfield Savings Bank now owns 26,233 shares of the information services provider’s stock worth $4,653,000 after purchasing an additional 536 shares in the last quarter. Nova Wealth Management Inc. grew its holdings in shares of Alphabet by 28.1% in the second quarter. Nova Wealth Management Inc. now owns 510 shares of the information services provider’s stock worth $90,000 after acquiring an additional 112 shares during the period. Finally, OMNI 360 Wealth Inc. grew its holdings in shares of Alphabet by 12.3% in the second quarter. OMNI 360 Wealth Inc. now owns 5,416 shares of the information services provider’s stock worth $961,000 after acquiring an additional 594 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $241.38 on Friday. The company has a market capitalization of $2.92 trillion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business’s fifty day moving average is $202.67 and its 200 day moving average is $178.86. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the business earned $1.89 earnings per share. Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research analyst reports. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group lifted their price objective on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.56.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 over the last three months. Insiders own 12.99% 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.