Fulton Bank N.A. Sells 5,009 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fulton Bank N.A. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,769 shares of the information services provider’s stock after selling 5,009 shares during the period. Alphabet comprises about 0.9% of Fulton Bank N.A.’s portfolio, making the stock its 24th largest holding. Fulton Bank N.A.’s holdings in Alphabet were worth $23,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Denver PWM LLC lifted its stake in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. First PREMIER Bank raised its holdings in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after buying an additional 61 shares in the last quarter. Cutler Investment Counsel LLC lifted its position in shares of Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after buying an additional 61 shares during the last quarter. MKT Advisors LLC boosted its stake in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after buying an additional 62 shares in the last quarter. Finally, Mendota Financial Group LLC grew its position in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 64 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the transaction, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This represents a 5.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,406,343.27. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 155,887 shares of company stock worth $27,996,356 over the last quarter. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Evercore ISI raised their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.82.

Alphabet Stock Down 0.2 %

Shares of GOOGL traded down $0.30 on Wednesday, reaching $195.19. The company’s stock had a trading volume of 13,908,421 shares, compared to its average volume of 21,703,090. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The stock has a market capitalization of $2.39 trillion, a PE ratio of 25.89, a PEG ratio of 1.35 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $181.36 and a 200-day moving average of $172.72.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the company earned $1.55 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

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

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.