Fortress Financial Solutions LLC Buys Shares of 2,394 Alphabet Inc. (NASDAQ:GOOGL)

Fortress Financial Solutions LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,394 shares of the information services provider's stock, valued at approximately $453,000.

Other large investors also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth $39,000. Denver PWM LLC grew its holdings in shares of 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 in the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Alphabet during the third quarter worth $66,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,299 shares of company stock worth $25,055,751. Insiders own 11.55% of the company's stock.

Alphabet Stock Down 2.7 %

GOOGL stock traded down $4.90 during midday trading on Friday, reaching $179.66. 35,094,289 shares of the company were exchanged, compared to its average volume of 28,166,218. 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 Inc. has a 1-year low of $130.66 and a 1-year high of $207.05. The stock's 50-day simple moving average is $192.46 and its 200 day simple moving average is $175.81. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. Sanford C. Bernstein upped their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a report on Wednesday, October 30th. DA Davidson upped their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Piper Sandler dropped their price objective on shares of Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Finally, DZ Bank lowered shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $210.62.

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.