Fulton Bank N.A. Has $19 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Fulton Bank N.A. cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,860 shares of the information services provider's stock after selling 1,909 shares during the quarter. Alphabet comprises approximately 0.8% of Fulton Bank N.A.'s holdings, making the stock its 27th biggest position. Fulton Bank N.A.'s holdings in Alphabet were worth $18,999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter valued at $24,383,677,000. FMR LLC grew its stake in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC raised its holdings in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Northern Trust Corp boosted its holdings in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors grew its position in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.1%

GOOGL stock traded up $0.16 during trading on Thursday, hitting $168.21. The company had a trading volume of 34,329,160 shares, compared to its average volume of 30,072,228. The stock has a market cap of $2.04 trillion, a PE ratio of 20.90, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50-day moving average of $159.54 and a 200-day moving average of $174.43. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm posted $1.89 EPS. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% 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, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,770 shares of company stock worth $32,036,638. Company insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Cantor Fitzgerald reduced their price target on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. UBS Group set a $195.00 target price on shares of Alphabet in a research report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a research note on Thursday, February 6th. Finally, Piper Sandler increased their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $199.75.

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.