Fortis Group Advisors LLC Acquires 20,327 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fortis Group Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 68.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,035 shares of the information services provider's stock after purchasing an additional 20,327 shares during the period. Alphabet comprises 1.8% of Fortis Group Advisors LLC's holdings, making the stock its 11th largest position. Fortis Group Advisors LLC's holdings in Alphabet were worth $9,472,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its holdings in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC raised its stake in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the period. Fisher Asset Management LLC lifted its position in shares of Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider's stock valued at $8,268,933,000 after buying an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock worth $6,175,106,000 after acquiring an additional 523,416 shares during the period. Institutional investors own 40.03% of the company's stock.

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Alphabet Stock Up 1.2 %

Alphabet stock traded up $2.10 on Wednesday, hitting $173.02. 30,915,972 shares of the stock traded hands, compared to its average volume of 29,660,857. The business's fifty day simple moving average is $189.06 and its 200 day simple moving average is $176.38. The firm has a market cap of $2.11 trillion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. 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 Inc. has a 1 year low of $130.85 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet's dividend payout ratio is currently 9.94%.

Insider Buying and Selling

In other news, insider Ruth Porat sold 17,690 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company's stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,316 shares of company stock worth $25,062,887 in the last 90 days. Insiders own 11.55% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on GOOGL shares. Robert W. Baird reaffirmed an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Loop Capital raised their price target on Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a report on Wednesday, November 6th. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Finally, Morgan Stanley reduced their price target on shares of Alphabet from $215.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.62.

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.