Fortitude Family Office LLC Has $1.17 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Fortitude Family Office LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,770 shares of the information services provider’s stock after purchasing an additional 400 shares during the quarter. Alphabet accounts for approximately 0.8% of Fortitude Family Office LLC’s holdings, making the stock its 24th largest holding. Fortitude Family Office LLC’s holdings in Alphabet were worth $1,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. RWQ Financial Management Services Inc. grew its holdings in Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management grew its holdings in Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley grew its holdings in Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares during the period. Nebula Research & Development LLC bought a new position in Alphabet during the fourth quarter worth about $787,000. Finally, Quantum Financial Advisors LLC boosted its holdings in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $179.63 on Friday. The company has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $180.85. The stock has a fifty day simple moving average of $170.05 and a 200 day simple moving average of $152.56. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 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 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research analyst reports. Rosenblatt Securities boosted their price objective on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Truist Financial boosted their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Robert W. Baird boosted their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Argus boosted their price objective on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $193.26.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold 135,958 shares of company stock valued at $22,383,553 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

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.