Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the 4th quarter, HoldingsChannel reports. The firm owned 11,980 shares of the information services provider’s stock after selling 105 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Alphabet were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GOOGL. FMR LLC raised its holdings in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after buying an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Alphabet in the third quarter valued at $634,465,000. Ontario Teachers Pension Plan Board purchased a new position in Alphabet in the third quarter valued at $601,545,000. Finally, Lone Pine Capital LLC purchased a new position in Alphabet in the third quarter valued at $407,367,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Truist Financial lifted their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a report on Friday, April 26th. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada lifted their price objective on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Raymond James lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.60.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock worth $40,382,765 in the last ninety days. 0.88% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $167.24 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.28 and a beta of 1.02. The company’s 50-day moving average is $150.14 and its two-hundred day moving average is $142.36. Alphabet Inc. has a 1-year low of $103.97 and a 1-year high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the business posted $1.17 EPS. Analysts forecast that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.48%.

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.