Fortis Capital Advisors LLC Acquires 1,935 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fortis Capital Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,029 shares of the information services provider's stock after purchasing an additional 1,935 shares during the period. Alphabet makes up approximately 0.8% of Fortis Capital Advisors LLC's holdings, making the stock its 17th biggest position. Fortis Capital Advisors LLC's holdings in Alphabet were worth $2,466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Alphabet in the fourth quarter valued at about $24,383,677,000. FMR LLC grew its stake in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Wellington Management Group LLP lifted its position in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after buying an additional 9,042,271 shares during the period. Proficio Capital Partners LLC boosted its stake in Alphabet by 20,990.0% in the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider's stock valued at $1,171,151,000 after buying an additional 6,157,413 shares in the last quarter. Finally, Amundi raised its stake in Alphabet by 18.7% during the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider's stock worth $5,792,317,000 after acquiring an additional 4,694,621 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOOGL. Truist Financial reduced their target price on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday. Morgan Stanley decreased their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday. UBS Group set a $190.00 target price on Alphabet in a report on Thursday, March 27th. Jefferies Financial Group dropped their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, DA Davidson decreased their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $200.74.

Alphabet Stock Down 1.5 %

NASDAQ GOOGL traded down $2.25 during trading on Friday, hitting $151.08. The stock had a trading volume of 32,930,996 shares, compared to its average volume of 28,329,951. The company has a market capitalization of $1.84 trillion, a PE ratio of 18.77, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company's 50-day moving average price is $165.14 and its two-hundred day moving average price is $175.77. 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 - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.53%. Alphabet's payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. This represents a 29.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the transaction, the chief executive officer now directly owns 2,685,196 shares of the company's stock, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock worth $25,361,647 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet 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.