Fortress Financial Group LLC Invests $303,000 in Alphabet Inc. (NASDAQ:GOOGL)

Fortress Financial Group LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,598 shares of the information services provider’s stock, valued at approximately $303,000.

Other institutional investors have also recently modified their holdings of the company. Compass Planning Associates Inc acquired a new position in Alphabet during the fourth quarter valued at approximately $30,000. LMR Partners LLP bought a new position in Alphabet in the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet during the fourth quarter worth about $39,000. Finally, PayPay Securities Corp increased its stake in Alphabet by 36.1% in 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. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $162.76 on Friday. The firm has a market capitalization of $1.98 trillion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12 month low of $140.03 and a 12 month high of $207.05. The firm has a fifty day simple moving average of $186.22 and a two-hundred day simple moving average of $176.39. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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 net margin of 28.60% and a return on equity of 32.49%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given 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 0.49%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

A number of research analysts have commented on GOOGL shares. JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Bank of America reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Stifel Nicolaus upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. KeyCorp upped their price objective on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Finally, Wedbush upped their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,882 shares of company stock worth $17,934,130. 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.