Fortis Capital Advisors LLC Purchases 4,369 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fortis Capital Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 52.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,752 shares of the information services provider’s stock after purchasing an additional 4,369 shares during the quarter. Alphabet comprises 0.8% of Fortis Capital Advisors LLC’s holdings, making the stock its 18th biggest position. Fortis Capital Advisors LLC’s holdings in Alphabet were worth $2,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth about $15,441,917,000. Capital Research Global Investors lifted its holdings in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado increased its stake in Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after purchasing an additional 6,010,548 shares in the last quarter. Finally, PineStone Asset Management Inc. raised its holdings in Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after buying an additional 4,170,229 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Up 0.4 %

Shares of GOOGL stock opened at $158.06 on Tuesday. The stock has a 50 day simple moving average of $166.84 and a 200 day simple moving average of $165.01. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.95 trillion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the firm posted $1.44 EPS. On average, research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,167 shares of company stock valued at $30,139,931. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GOOGL. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. Jefferies Financial Group lifted their price target on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Guggenheim upped their price objective on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald started coverage on Alphabet in a research report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price on the stock. Finally, Morgan Stanley reduced their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $201.08.

About Alphabet

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.