Fortitude Family Office LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,171 shares of the information services provider’s stock after acquiring an additional 249 shares during the period. Fortitude Family Office LLC’s holdings in Alphabet were worth $1,736,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of GOOGL. Denver PWM LLC grew its stake in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the period. First PREMIER Bank lifted its stake in shares of Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares in the last quarter. Cutler Investment Counsel LLC boosted its position in shares of Alphabet by 1.7% in the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after buying an additional 61 shares during the period. MKT Advisors LLC raised its holdings in shares of Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after buying an additional 62 shares during the period. Finally, Mendota Financial Group LLC lifted its position in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet Trading Down 0.8 %
Alphabet stock opened at $193.95 on Friday. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. 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 capitalization of $2.37 trillion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The firm has a 50 day simple moving average of $182.20 and a 200-day simple moving average of $173.01.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is 10.61%.
Insider Buying and Selling at Alphabet
In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock valued at $27,996,356 in the last three months. 11.55% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
GOOGL has been the topic of several analyst reports. Wolfe Research lifted their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.82.
Get Our Latest Report on GOOGL
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.
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