Fulton Bank N.A. Has $29.74 Million Position in Alphabet Inc. $GOOGL

Fulton Bank N.A. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,430 shares of the information services provider’s stock after selling 1,553 shares during the period. Alphabet accounts for 1.0% of Fulton Bank N.A.’s portfolio, making the stock its 22nd largest holding. Fulton Bank N.A.’s holdings in Alphabet were worth $29,742,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after buying an additional 12,531,695 shares during the last quarter. State Street Corp lifted its position in Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock worth $40,524,841,000 after acquiring an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock worth $45,625,595,000 after acquiring an additional 2,666,676 shares during the last quarter. Norges Bank bought a new stake in Alphabet during the fourth quarter valued at about $30,534,239,000. Finally, Bank of America Corp DE boosted its holdings in Alphabet by 4.9% during the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider’s stock valued at $21,630,861,000 after acquiring an additional 3,218,852 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOGL shares. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, April 30th. New Street Research increased their target price on Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, June 5th. China Renaissance raised their target price on Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a report on Monday, May 4th. Loop Capital lifted their price target on Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Citigroup reiterated an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $413.54.

Alphabet Price Performance

Shares of GOOGL stock opened at $358.89 on Friday. The stock has a 50 day moving average of $372.47 and a two-hundred day moving average of $336.30. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $174.38 and a 12 month high of $408.61. The company has a market capitalization of $4.35 trillion, a P/E ratio of 27.38, a P/E/G ratio of 1.55 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, equities analysts expect that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is presently 6.71%.

Insider Activity

In other news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the transaction, the director directly owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 160,465 shares of company stock valued at $8,020,511. 11.61% of the stock is owned by insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to be viewed as a leading AI beneficiary thanks to its broad distribution across Search, Android, YouTube, Google Cloud and custom chips, which could help it monetize AI spending more effectively than peers. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Brokerage coverage remains favorable, with a report saying analysts see about 10% upside for Alphabet after its recent earnings strength, and another note saying brokerages rate the stock a “Moderate Buy.”
• Positive Sentiment: Alphabet is still being highlighted as a top internet and cloud stock positioned to benefit from heavy AI infrastructure spending, supporting the view that growth can continue even as the market rotates among tech leaders.
• Positive Sentiment: Berkshire Hathaway’s recent $10 billion private placement in Alphabet is continuing to attract bullish attention, signaling institutional confidence in the company’s long-term value and AI potential.
• Positive Sentiment: Waymo’s plan to expand driverless rides to four more major cities adds another long-term growth avenue outside core advertising and cloud businesses.
• Neutral Sentiment: Google is rolling out disclosures showing when ads were made with AI, which may improve transparency but does not appear to be a major near-term financial driver.
• Neutral Sentiment: Alphabet’s search product hit record query volume during the World Cup, underscoring usage strength in the core business, though this is more of an engagement datapoint than a direct earnings catalyst.
• Negative Sentiment: Google is appealing an Indian ruling tied to trademark issues in its ads platform, creating a legal/regulatory headline that could weigh on sentiment around the advertising business. Google appeals Indian ruling over its ads platform, citing consumer harm
• Negative Sentiment: Some market commentary notes that Alphabet has pulled back alongside other mega-cap tech names as investors rotate toward other parts of the AI trade, which may be contributing to the stock’s weakness today.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.