Fulton Bank N.A. Acquires 2,293 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fulton Bank N.A. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,960 shares of the information services provider's stock after purchasing an additional 2,293 shares during the period. Fulton Bank N.A.'s holdings in Alphabet were worth $12,492,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sterling Financial Planning Inc. lifted its position in shares of Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after buying an additional 50 shares in the last quarter. Arlington Trust Co LLC increased its position in Alphabet by 0.4% in the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock worth $2,747,000 after buying an additional 52 shares during the last quarter. Ethos Financial Group LLC lifted its position in shares of Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after buying an additional 53 shares during the last quarter. Hutchinson Capital Management CA increased its stake in shares of Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after purchasing an additional 54 shares in the last quarter. Finally, Tempus Wealth Planning LLC lifted its stake in shares of Alphabet by 1.7% during the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider's stock valued at $636,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on GOOG. UBS Group reduced their target price on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. KeyCorp dropped their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $204.88.

Alphabet Stock Up 0.2%

Shares of NASDAQ:GOOG traded up $0.42 on Thursday, hitting $169.81. 24,698,959 shares of the company traded hands, compared to its average volume of 20,311,511. The company has a market cap of $2.06 trillion, a PE ratio of 21.09, a PEG ratio of 1.34 and a beta of 1.01. The stock has a 50 day simple moving average of $161.29 and a 200-day simple moving average of $176.14. Alphabet Inc. has a 52 week low of $142.66 and a 52 week 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.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The company's revenue was up 12.0% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is 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.