Fortune Financial Advisors LLC Has $3.75 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Fortune Financial Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,808 shares of the information services provider’s stock after purchasing an additional 270 shares during the period. Alphabet accounts for 3.4% of Fortune Financial Advisors LLC’s portfolio, making the stock its 4th largest holding. Fortune Financial Advisors LLC’s holdings in Alphabet were worth $3,750,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GOOGL. Schear Investment Advisers LLC lifted its holdings in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after buying an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC boosted its stake in Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. increased its position in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after purchasing an additional 5,516 shares during the last quarter. abrdn plc raised its position in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its holdings in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOOGL. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Bank of America reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Stifel Nicolaus boosted their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Morgan Stanley decreased their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Down 3.3 %

Alphabet stock opened at $185.34 on Friday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a market cap of $2.27 trillion, a PE ratio of 24.58, a PEG ratio of 1.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50-day simple moving average is $191.28 and its two-hundred day simple moving average is $174.64.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock worth $16,600,078 over the last three months. Company insiders own 11.55% 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.