Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,230 shares of the information services provider's stock after selling 1,710 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in Alphabet were worth $1,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. LMR Partners LLP purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $32,000. Denver PWM LLC lifted its position in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after purchasing an additional 57 shares during the period. Quarry LP purchased a new stake in shares of Alphabet in the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC lifted its position in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock worth $67,000 after purchasing an additional 64 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL traded up $2.05 during midday trading on Tuesday, hitting $198.05. 29,346,687 shares of the company traded hands, compared to its average volume of 23,514,902. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.26 and a beta of 0.98. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29. The business has a 50 day simple moving average of $184.74 and a two-hundred day simple moving average of $173.33.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm posted $1.55 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,834 shares of Alphabet stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the transaction, the chief accounting officer now directly owns 17,847 shares of the company's stock, valued at $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GOOGL shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Roth Mkm increased their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Piper Sandler reissued an "overweight" rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Wolfe Research increased their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada increased their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $208.15.

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.