Fortis Advisors LLC Buys 367 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fortis Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,859 shares of the information services provider’s stock after acquiring an additional 367 shares during the period. Alphabet accounts for 1.0% of Fortis Advisors LLC’s holdings, making the stock its 25th largest position. Fortis Advisors LLC’s holdings in Alphabet were worth $1,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Principia Wealth Advisory LLC boosted its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the period. LSV Asset Management acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet during the fourth quarter worth approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Citigroup restated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Scotiabank reduced their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Finally, Oppenheimer raised their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Stock Down 0.6%

Shares of NASDAQ:GOOG opened at $175.88 on Friday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a fifty day moving average of $164.57 and a 200-day moving average of $176.34. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $2.13 trillion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is currently owned by company 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.