Alphabet Inc. (NASDAQ:GOOG) is Folger Nolan Fleming Douglas Capital Management Inc.’s 9th Largest Position

Folger Nolan Fleming Douglas Capital Management Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,357 shares of the information services provider’s stock after selling 3,598 shares during the period. Alphabet accounts for approximately 2.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 9th largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Alphabet were worth $20,791,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Cornerstone Wealth Group LLC boosted its holdings in shares of Alphabet by 3.7% during the third quarter. Cornerstone Wealth Group LLC now owns 16,076 shares of the information services provider’s stock worth $2,688,000 after purchasing an additional 570 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in Alphabet by 0.6% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 113,127 shares of the information services provider’s stock worth $18,914,000 after buying an additional 623 shares during the period. Fiducient Advisors LLC lifted its holdings in Alphabet by 85.4% in the third quarter. Fiducient Advisors LLC now owns 9,855 shares of the information services provider’s stock worth $1,648,000 after buying an additional 4,540 shares during the period. JFS Wealth Advisors LLC lifted its holdings in Alphabet by 64.4% in the third quarter. JFS Wealth Advisors LLC now owns 25,404 shares of the information services provider’s stock worth $4,247,000 after buying an additional 9,953 shares during the period. Finally, Sunburst Financial Group LLC lifted its holdings in Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after buying an additional 60 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on GOOG shares. Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer raised their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group raised their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,744 shares of company stock valued at $35,878,764. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $172.69 on Friday. The company has a market capitalization of $2.13 trillion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $163.71 and a 200 day moving average of $170.32. Alphabet Inc. has a twelve month low of $123.93 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.