Fulton Bank N.A. Sells 65 Shares of Alphabet Inc. (GOOG)
Fulton Bank N.A. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,457 shares of the information services provider’s stock after selling 65 shares during the period. Fulton Bank N.A.’s holdings in Alphabet were worth $3,141,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farmers National Bank increased its position in Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares in the last quarter. Feltz Wealth PLAN Inc. acquired a new position in Alphabet during the 1st quarter valued at about $170,000. Pinnacle Bank acquired a new position in Alphabet during the 1st quarter valued at about $181,000. Baker Boyer National Bank acquired a new position in Alphabet during the 2nd quarter valued at about $200,000. Finally, Palo Capital Inc. acquired a new position in Alphabet during the 1st quarter valued at about $202,000. 34.52% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (GOOG) traded down 1.80% during midday trading on Monday, hitting $911.83. The company had a trading volume of 778,257 shares. The stock’s 50-day moving average price is $924.03 and its 200-day moving average price is $909.94. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25. The stock has a market cap of $631.79 billion, a PE ratio of 33.05 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. Alphabet’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm posted $8.42 EPS. On average, equities research analysts expect that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
In other Alphabet news, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $911.16, for a total value of $166,742.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $903.86, for a total value of $3,615,440.00. Following the completion of the transaction, the chief executive officer now owns 1,911 shares of the company’s stock, valued at $1,727,276.46. The disclosure for this sale can be found here. Insiders sold a total of 42,680 shares of company stock valued at $39,700,363 over the last quarter. 13.92% of the stock is currently owned by insiders.
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Several brokerages recently issued reports on GOOG. Robert W. Baird reaffirmed an “outperform” rating and set a $1,100.00 target price on shares of Alphabet in a research report on Saturday. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research report on Saturday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,100.00 target price on shares of Alphabet in a research report on Saturday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,050.00 target price on shares of Alphabet in a research report on Wednesday, August 9th. Finally, Moffett Nathanson reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $1,033.79.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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