Fulton Bank N.A. Has $21.52 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Fulton Bank N.A. cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 129,778 shares of the information services provider’s stock after selling 4,312 shares during the period. Alphabet comprises about 0.8% of Fulton Bank N.A.’s portfolio, making the stock its 25th largest position. Fulton Bank N.A.’s holdings in Alphabet were worth $21,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC acquired a new position in shares of Alphabet in the first quarter valued at approximately $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GOOGL shares. Morgan Stanley dropped their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Piper Sandler restated an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a research note on Monday, September 30th. Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group cut their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.13.

Alphabet Stock Up 0.3 %

GOOGL stock opened at $165.46 on Wednesday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.21 and a beta of 1.04. The business’s fifty day moving average price is $161.63 and its two-hundred day moving average price is $168.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $70.60 billion. During the same period last year, the firm earned $1.44 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,926 shares of company stock valued at $32,251,590. 11.55% of the stock is currently owned by company insiders.

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.