Emprise Bank Sells 432 Shares of Alphabet Inc. (NASDAQ:GOOG)

Emprise Bank lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,083 shares of the information services provider’s stock after selling 432 shares during the period. Alphabet comprises 1.1% of Emprise Bank’s holdings, making the stock its 22nd largest holding. Emprise Bank’s holdings in Alphabet were worth $1,853,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Twelve Points Wealth Management LLC lifted its holdings in Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after buying an additional 55 shares during the period. PCG Wealth Advisors LLC raised its position in shares of Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after acquiring an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV lifted its stake in shares of Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after acquiring an additional 57 shares during the period. Advisors Management Group Inc. ADV boosted its holdings in Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after acquiring an additional 58 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its position in Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $167.31 on Thursday. The business has a 50-day simple moving average of $163.57 and a 200 day simple moving average of $168.50. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock valued at $35,922,911 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOG. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Pivotal Research began coverage on Alphabet in a research note on Tuesday. They issued a “buy” rating and a $215.00 price objective on the stock. Finally, DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.75.

About Alphabet

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.