Fortitude Family Office LLC Has $1.59 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Fortitude Family Office LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,323 shares of the information services provider’s stock after purchasing an additional 60 shares during the quarter. Fortitude Family Office LLC’s holdings in Alphabet were worth $1,585,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GOOG. FMR LLC increased its stake in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after purchasing an additional 2,500,621 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Alphabet by 27.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock worth $1,375,512,000 after buying an additional 1,632,691 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Alphabet by 182.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after buying an additional 1,630,701 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 0.7 %

Shares of NASDAQ GOOG opened at $195.39 on Friday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The firm has a market capitalization of $2.39 trillion, a P/E ratio of 25.91, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50 day simple moving average is $183.71 and its 200 day simple moving average is $174.52.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the business posted $1.55 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,887 shares of company stock worth $27,996,356. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, UBS Group lifted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $200.56.

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.