Fortitude Family Office LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Fortitude Family Office LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,171 shares of the information services provider’s stock after purchasing an additional 249 shares during the quarter. Fortitude Family Office LLC’s holdings in Alphabet were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter valued at approximately $32,000. Denver PWM LLC bought a new position in shares of Alphabet during the second quarter worth $41,000. Quarry LP purchased a new position in Alphabet during the second quarter valued at $53,000. Teachers Insurance & Annuity Association of America bought a new stake in Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC lifted its stake in Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.8 %

Shares of Alphabet stock opened at $193.95 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $2.37 trillion, a price-to-earnings ratio of 25.72, a PEG ratio of 1.35 and a beta of 0.98. The firm’s 50-day moving average is $182.20 and its two-hundred day moving average is $173.01. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm earned $1.55 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the sale, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 155,887 shares of company stock valued at $27,996,356. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. JMP Securities cut shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $220.00 price target on the stock. in a research report on Thursday, January 2nd. Finally, Sanford C. Bernstein increased their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.82.

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.