Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Fortitude Family Office LLC

Fortitude Family Office LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,922 shares of the information services provider’s stock after buying an additional 199 shares during the quarter. Alphabet makes up about 0.6% of Fortitude Family Office LLC’s holdings, making the stock its 28th largest position. Fortitude Family Office LLC’s holdings in Alphabet were worth $1,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC acquired a new position in Alphabet in the 2nd quarter valued at about $41,000. CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. Finally, Quarry LP acquired a new position in Alphabet in the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $178.35 on Friday. The stock has a market cap of $2.18 trillion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03. 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 stock has a 50 day moving average of $163.54 and a 200-day moving average of $169.59. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the business posted $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GOOGL shares. DA Davidson started coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Piper Sandler reissued an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Guggenheim upped their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy 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 $205.90.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the sale, the director now directly owns 30,024 shares in the company, valued at approximately $4,894,812.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 242,552 shares of company stock worth $40,287,253. 11.55% of the stock is currently 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.