Fulton Bank N.A. Grows Holdings in Alphabet Inc. $GOOG

Key Points

• Fulton Bank increased its Alphabet position by 14.6% in the second quarter, adding 9,828 shares for a total of 77,200 shares valued at approximately $27.3 million.
• Analysts remain broadly bullish, with a consensus “Buy” rating and average price target of $410.09, despite Zacks Research downgrading the stock to “Hold.”
• Alphabet reported strong quarterly results, including $9.11 in earnings per share and $119.8 billion in revenue, while insiders have sold more than 600,000 shares over the past 90 days.

Fulton Bank N.A. grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 77,200 shares of the information services provider's stock after buying an additional 9,828 shares during the period. Alphabet accounts for approximately 0.8% of Fulton Bank N.A.'s portfolio, making the stock its 28th largest position. Fulton Bank N.A.'s holdings in Alphabet were worth $27,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. Nvest Wealth Strategies Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Imprint Wealth LLC acquired a new stake in shares of Alphabet during the third quarter worth $31,000. Bard Associates Inc. purchased a new position in Alphabet in the 4th quarter valued at $41,000. Finally, Towne Trust Company N.A grew its position in Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In related news, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 82 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $333.39, for a total value of $27,337.98. Following the transaction, the director directly owned 18,914 shares in the company, valued at $6,305,738.46. This trade represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 600,547 shares of company stock worth $16,255,540 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wolfe Research set a $460.00 price target on shares of Alphabet in a research note on Thursday, July 23rd. DZ Bank upgraded shares of Alphabet to a "strong-buy" rating in a research report on Thursday, July 23rd. TD Cowen reaffirmed a "buy" rating and issued a $475.00 price objective on shares of Alphabet in a report on Thursday, July 23rd. Rosenblatt Securities set a $393.00 target price on Alphabet in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Buy" and an average target price of $410.09.

Alphabet Stock Performance

NASDAQ GOOG opened at $355.84 on Tuesday. The firm has a market capitalization of $4.35 trillion, a P/E ratio of 17.87, a P/E/G ratio of 0.99 and a beta of 1.23. Alphabet Inc. has a 1-year low of $197.46 and a 1-year high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The business's 50-day simple moving average is $353.61 and its 200-day simple moving average is $339.25.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The business's quarterly revenue was up 24.2% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio is presently 4.42%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Strong AI investment and cloud growth: Alphabet’s Google Cloud business reportedly delivered 82% year-over-year revenue growth, while its contracted backlog reached approximately $514 billion. The company’s planned capital spending of about $205 billion in 2026 signals substantial expected demand for AI infrastructure and cloud services. Alphabet's Cloud Computing Business Just Posted 82% Revenue Growth
• Positive Sentiment: Institutional buying and bullish targets: Migdal Insurance added an estimated 693,726 GOOG shares, increasing its position by roughly 45%. Berkshire Hathaway’s previously disclosed multibillion-dollar Alphabet investment continues to be viewed as a vote of confidence in Alphabet’s long-term AI strategy. Recent analyst coverage remains broadly positive, with a median price target of approximately $422.50. Migdal Insurance Fund Update
• Positive Sentiment: Debt offering supports expansion: Alphabet completed a $25 billion, multi-maturity debt offering. The proceeds provide additional financial flexibility for data centers, AI infrastructure and other corporate needs, complementing its strong operating cash generation. Alphabet Completes $25 Billion Multi-Maturity Debt Offering
• Neutral Sentiment: New Google Play payment option: Google Play is adding Venmo for purchases of apps, games and digital content. The move could improve payment convenience and engagement but is unlikely to materially affect Alphabet’s near-term financial results. Google Play Adds Venmo as a Payment Option
• Negative Sentiment: AI leadership concerns: Analysts warn that high-profile departures from DeepMind could weaken Alphabet’s AI execution and competitive position, contributing to recent volatility and skepticism about the company’s ability to convert heavy spending into returns. Analyst Warns Alphabet Faces Two Major AI Problems
• Negative Sentiment: Mixed fund flows and insider selling: Great Lakes Advisors cut its GOOG position by approximately 536,022 shares, or 44%. Separately, reported Alphabet insiders made no open-market purchases and completed 96 sales over the past six months. These transactions may reinforce concerns about valuation or near-term upside, though they are not necessarily fundamental signals.
• Negative Sentiment: Financing and concentration risks: Critics question whether rapidly expanding AI infrastructure spending can generate adequate returns, particularly as a large portion of projected cloud revenue may depend on unprofitable AI customers. The new debt issuance adds funding capacity but also modestly increases leverage.

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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