Folger Nolan Fleming Douglas Capital Management Inc. Has $18.43 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,943 shares of the information services provider’s stock after selling 2,191 shares during the quarter. Alphabet accounts for about 2.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 10th largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Alphabet were worth $18,426,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC raised its holdings in shares of Alphabet by 9.3% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider’s stock worth $5,341,000 after buying an additional 2,390 shares in the last quarter. LaFleur & Godfrey LLC raised its holdings in shares of Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock worth $6,088,000 after buying an additional 380 shares in the last quarter. Brighton Jones LLC increased its holdings in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Alphabet during the 4th quarter valued at $204,262,000. Finally, Ascent Wealth Partners LLC increased its holdings in Alphabet by 246.2% during the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider’s stock valued at $1,085,000 after purchasing an additional 4,052 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.0%

NASDAQ:GOOG opened at $176.97 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.15 trillion, a P/E ratio of 21.98, a P/E/G ratio of 1.34 and a beta of 1.01. The stock’s fifty day simple moving average is $163.98 and its 200-day simple moving average is $176.27.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent analyst reports. Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Finally, Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,570 shares of company stock worth $32,003,532 in the last three months. Insiders own 12.99% of the company’s stock.

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.