Fulton Bank N.A. Buys 334 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fulton Bank N.A. lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,615 shares of the information services provider’s stock after buying an additional 334 shares during the period. Fulton Bank N.A.’s holdings in Alphabet were worth $12,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Swedbank AB bought a new position in shares of Alphabet in the 1st quarter valued at $1,378,708,000. Capital International Investors lifted its stake in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after purchasing an additional 2,190,795 shares during the period. Finally, Vima LLC increased its holdings in Alphabet by 178,253.1% in the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after purchasing an additional 2,000,000 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Down 2.5 %

NASDAQ GOOG traded down $4.17 during trading hours on Monday, hitting $164.39. The company’s stock had a trading volume of 13,992,764 shares, compared to its average volume of 19,917,268. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a market capitalization of $2.03 trillion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s 50-day simple moving average is $163.53 and its two-hundred day simple moving average is $168.91.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the firm earned $1.44 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

A number of analysts recently weighed in on GOOG shares. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. UBS Group decreased their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.11.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at $5,728,640.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock valued at $35,922,911 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet 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.