Fortis Capital Advisors LLC Has $2.47 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Fortis Capital Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,029 shares of the information services provider’s stock after purchasing an additional 1,935 shares during the quarter. Alphabet comprises about 0.8% of Fortis Capital Advisors LLC’s holdings, making the stock its 17th biggest position. Fortis Capital Advisors LLC’s holdings in Alphabet were worth $2,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Principal Financial Group Inc. grew its holdings in shares of Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after buying an additional 337,031 shares during the last quarter. Headinvest LLC boosted its stake in Alphabet by 0.8% during the 3rd quarter. Headinvest LLC now owns 47,634 shares of the information services provider’s stock valued at $7,900,000 after purchasing an additional 363 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $154,000. Dean Investment Associates LLC raised its stake in shares of Alphabet by 23.1% in the third quarter. Dean Investment Associates LLC now owns 2,025 shares of the information services provider’s stock worth $336,000 after purchasing an additional 380 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its holdings in shares of Alphabet by 11.8% in the third quarter. Hodges Capital Management Inc. now owns 17,009 shares of the information services provider’s stock valued at $2,821,000 after purchasing an additional 1,795 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GOOGL shares. DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target for the company. in a research report on Thursday, February 6th. Wells Fargo & Company dropped their price target on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Monday, March 31st. Citigroup cut their price objective on Alphabet from $229.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.72.

Alphabet Trading Down 1.7 %

Shares of Alphabet stock opened at $156.31 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $1.91 trillion, a PE ratio of 19.42, a PEG ratio of 1.34 and a beta of 1.03. The company has a 50 day simple moving average of $167.17 and a two-hundred day simple moving average of $176.14.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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 return on equity of 32.49% and a net margin of 28.60%. Analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the transaction, the director now owns 272,466 shares in the company, valued at $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,663 shares of company stock valued at $20,286,447 over the last three months. 11.55% of the stock is owned by company insiders.

About Alphabet

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.