Alphabet Inc. (GOOG) Position Cut by Enterprise Financial Services Corp
Enterprise Financial Services Corp reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606 shares of the information services provider’s stock after selling 64 shares during the period. Enterprise Financial Services Corp’s holdings in Alphabet were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Doyle Wealth Management increased its holdings in shares of Alphabet by 6.7% in the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock valued at $2,891,000 after purchasing an additional 200 shares during the period. Carret Asset Management LLC increased its holdings in shares of Alphabet by 1.5% in the first quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock valued at $8,281,000 after purchasing an additional 145 shares during the period. Adviser Investments LLC acquired a new position in shares of Alphabet in the first quarter valued at about $1,276,000. Rothschild Investment Corp IL increased its holdings in shares of Alphabet by 1.7% in the second quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock valued at $9,823,000 after purchasing an additional 184 shares during the period. Finally, Stevens Capital Management LP increased its holdings in shares of Alphabet by 228.1% in the first quarter. Stevens Capital Management LP now owns 6,463 shares of the information services provider’s stock valued at $5,361,000 after purchasing an additional 4,493 shares during the period. 34.52% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Pivotal Research increased their price objective on Alphabet from $940.00 to $970.00 and gave the company a “hold” rating in a report on Thursday, October 12th. Macquarie reissued an “outperform” rating and issued a $995.00 price objective on shares of Alphabet in a report on Friday, October 6th. Wells Fargo & Company reissued a “buy” rating on shares of Alphabet in a report on Friday, October 6th. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $988.73 price objective on the stock. in a report on Monday, October 2nd. Finally, Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $1,034.07.
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Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 992.81 on Thursday. The firm’s 50-day moving average price is $948.57 and its 200 day moving average price is $928.63. The firm has a market cap of $687.90 billion, a PE ratio of 35.98 and a beta of 0.94. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $997.21.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same quarter in the prior year, the company posted $8.42 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post $30.62 EPS for the current fiscal year.
In other Alphabet news, Director Shirley M. Tilghman sold 525 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $938.09, for a total transaction of $492,497.25. Following the transaction, the director now owns 5,517 shares of the company’s stock, valued at approximately $5,175,442.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director L John Doerr sold 13,556 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total value of $12,500,665.40. Following the transaction, the director now directly owns 3,485 shares in the company, valued at approximately $3,213,692.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,694 shares of company stock worth $38,136,904. Corporate insiders own 13.92% of the company’s stock.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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