Fortis Group Advisors LLC Acquires 20,327 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fortis Group Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 68.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 50,035 shares of the information services provider’s stock after acquiring an additional 20,327 shares during the quarter. Alphabet makes up 1.8% of Fortis Group Advisors LLC’s investment portfolio, making the stock its 11th largest position. Fortis Group Advisors LLC’s holdings in Alphabet were worth $9,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter worth about $39,000. PayPay Securities Corp lifted its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Finally, Denver PWM LLC lifted its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GOOGL shares. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Citigroup lowered their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Bank of America reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Price Performance

Shares of GOOGL stock opened at $170.33 on Friday. The firm has a market cap of $2.08 trillion, a P/E ratio of 21.16, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The business’s 50 day moving average price is $190.58 and its 200-day moving average price is $176.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insider Activity

In other news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,309 shares of company stock worth $25,057,490 in the last quarter. 11.55% of the stock is owned by company insiders.

Alphabet Company 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.