Alphabet Inc. (NASDAQ:GOOGL) is Enterprise Bank & Trust Co’s 9th Largest Position

Posted by on Jun 24th, 2023

Enterprise Bank & Trust Co trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,500 shares of the information services provider’s stock after selling 330 shares during the quarter. Alphabet makes up about 2.0% of Enterprise Bank & Trust Co’s portfolio, making the stock its 9th biggest holding. Enterprise Bank & Trust Co’s holdings in Alphabet were worth $4,616,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DC Investments Management LLC acquired a new stake in Alphabet during the 1st quarter worth $114,000. Bridgefront Capital LLC acquired a new stake in Alphabet during the 1st quarter worth $225,000. Worth Asset Management LLC acquired a new stake in Alphabet during the 1st quarter worth $206,000. Eudaimonia Advisors LLC boosted its stake in Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in Alphabet during the 1st quarter worth $281,000. 35.38% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL stock opened at $122.34 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.55 trillion, a P/E ratio of 27.25, a P/E/G ratio of 1.57 and a beta of 1.09. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $129.04. The stock has a 50 day moving average of $116.68 and a two-hundred day moving average of $103.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter last year, the company earned $1.23 EPS. As a group, equities analysts expect that Alphabet Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Roth Mkm boosted their price target on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Citigroup boosted their price target on shares of Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. Evercore ISI boosted their price target on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, Bank of America boosted their price target on shares of Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares in the company, valued at approximately $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 29,006 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the completion of the sale, the insider now directly owns 24,277 shares in the company, valued at $2,472,369.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 854,930 shares of company stock worth $29,996,488. 0.88% of the stock is currently owned by insiders.

About Alphabet

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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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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