Folger Nolan Fleming Douglas Capital Management Inc. Has $20.64 Million Position in Alphabet Inc. $GOOG

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the second quarter, HoldingsChannel.com reports. The firm owned 116,350 shares of the information services provider’s stock after selling 1,593 shares during the period. Alphabet accounts for 2.3% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 8th biggest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Alphabet were worth $20,639,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. ACT Advisors LLC. grew its holdings in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management boosted its holdings in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after purchasing an additional 56 shares during the last quarter. Kooman & Associates boosted its stake in shares of Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after acquiring an additional 56 shares in the last quarter. Colton Groome Financial Advisors LLC boosted its stake in shares of Alphabet by 3.4% during the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after acquiring an additional 57 shares in the last quarter. Finally, Brueske Advisory Services LLC boosted its stake in shares of Alphabet by 2.7% during the 2nd quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock worth $389,000 after acquiring an additional 58 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $246.19 on Wednesday. The company’s fifty day moving average price is $228.96 and its 200 day moving average price is $191.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.98 trillion, a P/E ratio of 26.22, a P/E/G ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the business earned $1.89 EPS. Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOG. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp set a $265.00 price objective on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Mizuho raised shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,838 shares of company stock valued at $53,070,333. Company insiders own 12.99% of the company’s stock.

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.