Fulton Bank N.A. Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

Fulton Bank N.A. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,667 shares of the information services provider’s stock after acquiring an additional 3,052 shares during the quarter. Fulton Bank N.A.’s holdings in Alphabet were worth $14,791,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the third quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the third quarter worth about $33,000. Abich Financial Wealth Management LLC grew its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. increased its position in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now directly owns 26,324 shares in the company, valued at $4,342,143.80. This trade represents a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,887 shares of company stock worth $27,996,356. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 0.1 %

Alphabet stock traded down $0.20 during trading hours on Wednesday, reaching $196.51. The stock had a trading volume of 7,131,506 shares, compared to its average volume of 14,758,378. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $202.88. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day moving average price is $182.87 and its 200-day moving average price is $174.23.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the business earned $1.55 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Canaccord Genuity Group raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup lifted their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.