Forte Capital LLC ADV Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Forte Capital LLC ADV cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,654 shares of the information services provider’s stock after selling 2,012 shares during the quarter. Alphabet comprises 2.3% of Forte Capital LLC ADV’s portfolio, making the stock its 10th biggest holding. Forte Capital LLC ADV’s holdings in Alphabet were worth $20,342,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC bought a new position in shares of Alphabet during the second quarter valued at about $36,000. Denver PWM LLC bought a new position in Alphabet during the second quarter valued at about $41,000. Quarry LP purchased a new stake in Alphabet during the second quarter valued at about $53,000. Finally, Summit Securities Group LLC purchased a new position in Alphabet in the 2nd quarter valued at approximately $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Up 1.6 %

Shares of GOOGL opened at $178.12 on Wednesday. The stock has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.23 and a beta of 1.03. The stock has a fifty day moving average of $166.74 and a 200-day moving average of $170.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the business posted $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,295 shares of company stock worth $30,698,791 over the last three months. 11.55% of the stock is owned by insiders.

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.