Fortis Capital Management LLC Buys 799 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fortis Capital Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,366 shares of the information services provider’s stock after purchasing an additional 799 shares during the period. Alphabet makes up about 2.1% of Fortis Capital Management LLC’s holdings, making the stock its 8th biggest position. Fortis Capital Management LLC’s holdings in Alphabet were worth $11,306,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GOOG. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the third quarter valued at $33,000. Noble Wealth Management PBC purchased a new stake in Alphabet in the 4th quarter worth about $43,000. Finally, FPC Investment Advisory Inc. boosted its position in Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after acquiring an additional 167 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 in the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a report on Wednesday. Wedbush restated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

NASDAQ GOOG opened at $166.25 on Friday. Alphabet Inc. has a 1 year low of $148.20 and a 1 year high of $208.70. The company has a fifty day simple moving average of $184.37 and a 200 day simple moving average of $178.07. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.03 trillion, a P/E ratio of 20.65, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

About Alphabet

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.