Fortis Capital Advisors LLC Has $3.83 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Fortis Capital Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,879 shares of the information services provider’s stock after purchasing an additional 501 shares during the period. Alphabet accounts for about 1.4% of Fortis Capital Advisors LLC’s portfolio, making the stock its 11th largest position. Fortis Capital Advisors LLC’s holdings in Alphabet were worth $3,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Park Avenue Securities LLC raised its position in shares of Alphabet by 11.9% during the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after acquiring an additional 11,646 shares during the last quarter. Colonial River Wealth Management LLC raised its holdings in Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares during the last quarter. Apexium Financial LP lifted its position in Alphabet by 335.9% during the 4th quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock valued at $7,586,000 after purchasing an additional 41,476 shares during the period. Oak Ridge Investments LLC boosted its stake in shares of Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after purchasing an additional 8,201 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its position in shares of Alphabet by 0.7% during the 1st quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock worth $9,580,000 after buying an additional 426 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 4.1 %

NASDAQ:GOOG opened at $152.13 on Friday. The business’s 50-day simple moving average is $172.50 and its 200-day simple moving average is $165.62. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $1.88 trillion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. Sell-side analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOG shares. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer boosted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider John Kent Walker sold 21,467 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold a total of 200,532 shares of company stock worth $34,055,874 over the last three months. Corporate insiders own 12.99% of the company’s stock.

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.